Sound Income Strategies LLC Has $16.45 Million Stock Holdings in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Sound Income Strategies LLC increased its holdings in Gaming and Leisure Properties, Inc. by 8.9%, owning 352,420 shares worth approximately $16.45 million as of the end of the recent reporting period.
• The company declared a quarterly dividend of $0.78, resulting in an annualized dividend yield of 6.7%; however, its payout ratio is notably high at 120.93%.
• Gaming and Leisure Properties reported earnings per share (EPS) of $0.96 for the last quarter, missing estimates and showing a 3.8% year-over-year revenue increase.

Sound Income Strategies LLC grew its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 8.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,420 shares of the real estate investment trust's stock after buying an additional 28,894 shares during the quarter. Sound Income Strategies LLC owned 0.13% of Gaming and Leisure Properties worth $16,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC bought a new position in Gaming and Leisure Properties in the first quarter valued at approximately $151,723,000. Invesco Ltd. lifted its position in Gaming and Leisure Properties by 127.7% during the first quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock worth $229,673,000 after acquiring an additional 2,530,463 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Gaming and Leisure Properties by 731.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,212,612 shares of the real estate investment trust's stock valued at $112,622,000 after purchasing an additional 1,946,575 shares during the period. Millennium Management LLC increased its position in Gaming and Leisure Properties by 294.6% during the first quarter. Millennium Management LLC now owns 966,925 shares of the real estate investment trust's stock worth $49,216,000 after acquiring an additional 721,861 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Gaming and Leisure Properties by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 11,556,825 shares of the real estate investment trust's stock valued at $588,242,000 after purchasing an additional 349,065 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total value of $139,620.00. Following the sale, the director owned 133,953 shares of the company's stock, valued at approximately $6,234,172.62. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Trading Up 1.7%

Shares of Gaming and Leisure Properties stock opened at $46.88 on Monday. The stock has a market capitalization of $13.27 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 10.19 and a beta of 0.73. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.27. The stock has a 50 day moving average price of $46.99 and a two-hundred day moving average price of $47.49. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.01). The business had revenue of $394.90 million for the quarter, compared to analyst estimates of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, September 12th. Gaming and Leisure Properties's payout ratio is 120.93%.

Analyst Ratings Changes

GLPI has been the topic of a number of recent analyst reports. Stifel Nicolaus cut Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 price target on the stock. in a research report on Monday, July 21st. Macquarie cut their price objective on Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, July 28th. Scotiabank boosted their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Royal Bank Of Canada decreased their price target on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Finally, Barclays dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has an average rating of "Hold" and a consensus price target of $52.85.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.

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