Family Management Corp Lowers Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Family Management Corp lessened its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 76.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,207 shares of the real estate investment trust’s stock after selling 20,270 shares during the quarter. Family Management Corp’s holdings in Gaming and Leisure Properties were worth $291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Gaming and Leisure Properties by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust’s stock worth $1,605,894,000 after acquiring an additional 1,199,697 shares in the last quarter. BlackRock Inc. grew its holdings in Gaming and Leisure Properties by 3.1% in the first quarter. BlackRock Inc. now owns 16,323,748 shares of the real estate investment trust’s stock worth $766,072,000 after purchasing an additional 488,130 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Gaming and Leisure Properties by 13.6% during the first quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock worth $493,511,000 after purchasing an additional 1,255,222 shares in the last quarter. State Street Corp lifted its holdings in shares of Gaming and Leisure Properties by 9.6% during the 1st quarter. State Street Corp now owns 7,428,567 shares of the real estate investment trust’s stock valued at $348,623,000 after purchasing an additional 650,651 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Gaming and Leisure Properties by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 3,934,755 shares of the real estate investment trust’s stock worth $191,462,000 after purchasing an additional 93,607 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on GLPI. Truist Financial increased their price target on Gaming and Leisure Properties from $51.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, July 20th. UBS Group decreased their price objective on shares of Gaming and Leisure Properties to $55.00 in a research report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gaming and Leisure Properties from $57.00 to $62.00 in a research report on Monday, August 1st. Citigroup raised their price target on shares of Gaming and Leisure Properties to $59.00 in a report on Monday, August 22nd. Finally, Mizuho boosted their price objective on shares of Gaming and Leisure Properties from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 30th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Gaming and Leisure Properties Trading Up 0.5 %

Shares of Gaming and Leisure Properties stock opened at $50.21 on Tuesday. The stock has a market cap of $12.83 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. The firm has a fifty day moving average price of $50.18 and a 200 day moving average price of $47.22. Gaming and Leisure Properties, Inc. has a 1 year low of $41.81 and a 1 year high of $52.87. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.07 and a quick ratio of 0.07.

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

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.705 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 5.62%. Gaming and Leisure Properties’s payout ratio is 127.03%.

Insider Activity

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

About Gaming and Leisure Properties

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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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