HB Wealth Management LLC Sells 2,072 Shares of Gaming and Leisure Properties, Inc. $GLPI

HB Wealth Management LLC reduced its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 23.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,727 shares of the real estate investment trust’s stock after selling 2,072 shares during the period. HB Wealth Management LLC’s holdings in Gaming and Leisure Properties were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new position in Gaming and Leisure Properties in the 1st quarter valued at about $26,000. TD Private Client Wealth LLC grew its position in shares of 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 last quarter. Private Trust Co. NA bought a new position in shares of Gaming and Leisure Properties during the first quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Gaming and Leisure Properties during the second quarter worth approximately $30,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in Gaming and Leisure Properties by 1,872.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 618 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total transaction of $139,620.00. Following the sale, the director owned 133,953 shares in the company, valued at $6,234,172.62. The trade was a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GLPI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Saturday, September 27th. Stifel Nicolaus cut 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 report on Monday, July 21st. Royal Bank Of Canada decreased their price target on shares of Gaming and Leisure Properties from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Mizuho raised their price target on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Finally, Cantor Fitzgerald started coverage on shares of Gaming and Leisure Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $51.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.71.

Gaming and Leisure Properties Trading Down 1.4%

GLPI opened at $46.20 on Tuesday. The company has a market cap of $13.08 billion, a P/E ratio of 17.91, a PEG ratio of 10.19 and a beta of 0.74. 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 company’s 50 day moving average is $46.98 and its 200-day moving average is $47.33. Gaming and Leisure Properties, Inc. has a 1-year low of $44.48 and a 1-year high of $52.27.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data 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 company had revenue of $394.90 million during the quarter, compared to the consensus estimate of $397.27 million. During the same period in the previous year, the company earned $0.94 EPS. Gaming and Leisure Properties’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. Equities research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.12 annualized dividend and a dividend yield of 6.8%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 120.93%.

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.