Janney Montgomery Scott LLC Cuts Position in Gaming and Leisure Properties, Inc. $GLPI

Janney Montgomery Scott LLC lessened its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 27.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,800 shares of the real estate investment trust’s stock after selling 92,558 shares during the quarter. Janney Montgomery Scott LLC owned 0.09% of Gaming and Leisure Properties worth $11,521,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new position in Gaming and Leisure Properties during the 1st quarter valued at about $26,000. Private Trust Co. NA acquired a new position in Gaming and Leisure Properties during the first quarter valued at approximately $28,000. TD Private Client Wealth LLC lifted its position in Gaming and Leisure Properties by 64.2% during 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 buying an additional 213 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Gaming and Leisure Properties during the second quarter worth $30,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Gaming and Leisure Properties during the first quarter worth $33,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.6%

GLPI opened at $46.87 on Friday. Gaming and Leisure Properties, Inc. has a fifty-two week low of $44.48 and a fifty-two week high of $52.27. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39. The firm’s fifty day moving average price is $46.97 and its two-hundred day moving average price is $47.41. The company has a market capitalization of $13.26 billion, a P/E ratio of 18.17, a P/E/G ratio of 10.12 and a beta of 0.74.

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 the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The firm had revenue of $394.90 million during the quarter, compared to analyst estimates of $397.27 million. During the same quarter in the prior year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. On average, analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, September 12th. Gaming and Leisure Properties’s payout ratio is currently 120.93%.

Insider Activity

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total value of $139,620.00. Following the completion of the transaction, the director directly owned 133,953 shares of the company’s stock, valued at $6,234,172.62. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GLPI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Saturday, September 27th. Barclays lowered 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 report on Wednesday, August 20th. Macquarie reduced their price objective on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, July 28th. Cantor Fitzgerald initiated coverage on shares of Gaming and Leisure Properties in a report on Wednesday. They issued a “neutral” rating and a $51.00 price target for the company. Finally, Scotiabank upped their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Hold” and an average target price of $52.71.

Gaming and Leisure Properties 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.