The Manufacturers Life Insurance Company Has $15.48 Million Stock Holdings in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Gaming and Leisure Properties, Inc. by 15.0% in the first quarter, now owning 304,114 shares valued at approximately $15.48 million.
• Several institutional investors, including Wellington Management Group and Invesco Ltd., have also increased their stakes, with hedge funds collectively owning 91.14% of the company’s stock.
• Analysts have revised their price targets for GLPI shares, with estimates ranging from $48.00 to $59.00, reflecting a mix of buy and hold ratings.

The Manufacturers Life Insurance Company raised its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 15.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 304,114 shares of the real estate investment trust's stock after buying an additional 39,706 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Gaming and Leisure Properties worth $15,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Gaming and Leisure Properties in the 1st quarter worth $151,723,000. Invesco Ltd. grew its position in Gaming and Leisure Properties by 127.7% in the 1st quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust's stock worth $229,673,000 after purchasing an additional 2,530,463 shares during the last quarter. Wellington Management Group LLP grew its position 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 worth $588,242,000 after purchasing an additional 349,065 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gaming and Leisure Properties during the 1st quarter valued at about $12,114,000. Finally, Millennium Management LLC boosted its position in shares of Gaming and Leisure Properties by 334.8% during the 4th quarter. Millennium Management LLC now owns 245,064 shares of the real estate investment trust's stock valued at $11,802,000 after acquiring an additional 188,702 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company's stock.

Gaming and Leisure Properties Stock Performance

Shares of GLPI traded up $0.09 during trading hours on Tuesday, hitting $48.02. The company had a trading volume of 783,469 shares, compared to its average volume of 1,510,195. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 10.53 and a beta of 0.73. The business has a fifty day moving average of $47.17 and a 200-day moving average of $47.77. Gaming and Leisure Properties, Inc. has a 12 month low of $44.48 and a 12 month high of $52.60. The company has a quick ratio of 7.39, a current ratio of 7.39 and a debt-to-equity ratio of 1.41.

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 for the quarter, missing the consensus estimate of $0.97 by ($0.01). The company had revenue of $394.90 million during the quarter, compared to the consensus estimate of $397.27 million. Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. Gaming and Leisure Properties's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. Equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, September 12th. Gaming and Leisure Properties's dividend payout ratio (DPR) is currently 120.93%.

Insider Buying and Selling

In related news, Director E Scott Urdang sold 4,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00. Following the transaction, the director directly owned 136,953 shares of the company's stock, valued at approximately $6,379,270.74. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.26% of the company's stock.

Analyst Ratings Changes

GLPI has been the subject of a number of research analyst reports. 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 research note on Thursday, August 28th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Macquarie dropped their price target on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, July 28th. Royal Bank Of Canada dropped their price target on shares of 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, Stifel Nicolaus downgraded shares of Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price for the company. in a research note on Monday, July 21st. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of "Hold" and a consensus price target of $52.69.

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.