Parallel Advisors LLC Trims Stock Position in Gaming and Leisure Properties, Inc. $GLPI

Parallel Advisors LLC lessened its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 47.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,163 shares of the real estate investment trust’s stock after selling 1,964 shares during the quarter. Parallel Advisors LLC’s holdings in Gaming and Leisure Properties were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. raised its position in shares of Gaming and Leisure Properties by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 5,197 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 211 shares during the period. TD Private Client Wealth LLC raised its position in Gaming and Leisure Properties by 64.2% in the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 213 shares during the period. Pure Financial Advisors LLC raised its position in Gaming and Leisure Properties by 2.6% in the first quarter. Pure Financial Advisors LLC now owns 8,676 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 221 shares during the period. Woodward Diversified Capital LLC raised its position in Gaming and Leisure Properties by 5.8% in the first quarter. Woodward Diversified Capital LLC now owns 4,402 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 243 shares during the period. Finally, Brooklyn Investment Group raised its position in Gaming and Leisure Properties by 38.8% in the first quarter. Brooklyn Investment Group now owns 1,059 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $45.74 on Thursday. The company has a current ratio of 7.39, a quick ratio of 7.39 and a debt-to-equity ratio of 1.41. The firm has a fifty day moving average price of $47.03 and a 200 day moving average price of $47.57. The company has a market cap of $12.94 billion, a P/E ratio of 17.73, a PEG ratio of 10.08 and a beta of 0.73. Gaming and Leisure Properties, Inc. has a 12 month low of $44.48 and a 12 month high of $52.27.

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

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, September 12th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.8%. Gaming and Leisure Properties’s payout ratio is presently 120.93%.

Insider Activity at Gaming and Leisure Properties

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

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. Royal Bank Of Canada cut their target price on Gaming and Leisure Properties from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Mizuho boosted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, September 11th. Stifel Nicolaus lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating and set a $51.25 target price on the stock. in a research report on Monday, July 21st. 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 for the company in a research note on Wednesday, August 20th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Hold” and a consensus target price of $52.85.

About Gaming and Leisure Properties

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.