Cohen & Steers Inc. Takes $9.69 Million Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Cohen & Steers Inc. bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 206,424 shares of the real estate investment trust’s stock, valued at approximately $9,687,000. Cohen & Steers Inc. owned approximately 0.08% of Gaming and Leisure Properties as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Qube Research & Technologies Ltd lifted its holdings in Gaming and Leisure Properties by 1,032.0% during the fourth quarter. Qube Research & Technologies Ltd now owns 395,002 shares of the real estate investment trust’s stock worth $19,221,000 after acquiring an additional 360,107 shares during the period. abrdn plc lifted its holdings in Gaming and Leisure Properties by 7.5% during the fourth quarter. abrdn plc now owns 1,454,105 shares of the real estate investment trust’s stock worth $70,757,000 after acquiring an additional 101,240 shares during the period. Teacher Retirement System of Texas lifted its holdings in Gaming and Leisure Properties by 21.5% during the fourth quarter. Teacher Retirement System of Texas now owns 43,000 shares of the real estate investment trust’s stock worth $2,092,000 after acquiring an additional 7,609 shares during the period. Rafferty Asset Management LLC lifted its holdings in Gaming and Leisure Properties by 9.5% during the fourth quarter. Rafferty Asset Management LLC now owns 20,010 shares of the real estate investment trust’s stock worth $974,000 after acquiring an additional 1,731 shares during the period. Finally, Pictet Asset Management SA lifted its holdings in Gaming and Leisure Properties by 0.4% during the fourth quarter. Pictet Asset Management SA now owns 85,271 shares of the real estate investment trust’s stock worth $4,149,000 after acquiring an additional 321 shares during the period. Institutional investors own 88.45% of the company’s stock.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Gaming and Leisure Properties from $57.00 to $62.00 in a report on Monday, August 1st. StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Citigroup raised their target price on Gaming and Leisure Properties to $59.00 in a research report on Monday, August 22nd. Truist Financial raised their target price on Gaming and Leisure Properties from $51.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, July 20th. Finally, UBS Group decreased their target price on Gaming and Leisure Properties to $55.00 in a research report on Thursday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Insider Activity at Gaming and Leisure Properties

In related news, EVP Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $52.00, for a total transaction of $156,000.00. Following the completion of the sale, the executive vice president now owns 185,993 shares of the company’s stock, valued at $9,671,636. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.60% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $49.98 on Friday. The stock has a market cap of $12.77 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 2.91 and a beta of 1.01. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.81 and a fifty-two week high of $52.87. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a fifty day moving average of $50.11 and a 200-day moving average of $47.17.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.27). The company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $325.40 million. Gaming and Leisure Properties had a net margin of 43.54% and a return on equity of 16.30%. Gaming and Leisure Properties’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.47 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 5.64%. The ex-dividend date is Thursday, September 15th. Gaming and Leisure Properties’s dividend payout ratio is 127.03%.

Gaming and Leisure Properties Company Profile

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GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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