Balyasny Asset Management L.P. Buys New Position in Gaming and Leisure Properties, Inc. $GLPI

Balyasny Asset Management L.P. purchased a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,673,206 shares of the real estate investment trust’s stock, valued at approximately $124,785,000. Balyasny Asset Management L.P. owned approximately 0.94% of Gaming and Leisure Properties as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GLPI. Cbre Investment Management Listed Real Assets LLC raised its stake in Gaming and Leisure Properties by 407.7% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 110,654 shares of the real estate investment trust’s stock worth $5,632,000 after buying an additional 88,858 shares in the last quarter. AGF Management Ltd. boosted its position in Gaming and Leisure Properties by 18.1% during the 2nd quarter. AGF Management Ltd. now owns 65,248 shares of the real estate investment trust’s stock valued at $3,046,000 after acquiring an additional 9,992 shares in the last quarter. Resona Asset Management Co. Ltd. grew its holdings in shares of Gaming and Leisure Properties by 6.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 160,151 shares of the real estate investment trust’s stock worth $8,092,000 after acquiring an additional 9,130 shares during the period. FJ Capital Management LLC bought a new position in shares of Gaming and Leisure Properties in the 1st quarter worth approximately $354,000. Finally, Royal Bank of Canada lifted its stake in shares of Gaming and Leisure Properties by 1.5% in the 1st quarter. Royal Bank of Canada now owns 466,403 shares of the real estate investment trust’s stock valued at $23,741,000 after purchasing an additional 6,869 shares during the period. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $45.49, for a total transaction of $181,960.00. Following the sale, the director owned 129,953 shares in the company, valued at $5,911,561.97. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLPI. Cantor Fitzgerald reduced their price target on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Barclays dropped their target price on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. Stifel Nicolaus reduced their target price on shares of Gaming and Leisure Properties from $49.50 to $47.50 and set a “hold” rating on the stock in a research report on Friday, October 31st. Mizuho increased 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 note on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gaming and Leisure Properties in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.13.

Gaming and Leisure Properties Trading Up 3.4%

NASDAQ GLPI opened at $43.49 on Friday. Gaming and Leisure Properties, Inc. has a 12 month low of $41.17 and a 12 month high of $52.24. The company has a current ratio of 13.23, a quick ratio of 13.23 and a debt-to-equity ratio of 1.47. The stock’s fifty day moving average price is $44.08 and its 200-day moving average price is $45.98. The stock has a market cap of $12.31 billion, a P/E ratio of 15.76, a P/E/G ratio of 9.10 and a beta of 0.68.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $397.61 million during the quarter, compared to analyst estimates of $399.66 million. Gaming and Leisure Properties had a return on equity of 16.34% and a net margin of 49.54%.Gaming and Leisure Properties’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. Gaming and Leisure Properties has set its FY 2025 guidance at 3.860-3.880 EPS. As a group, equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS 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, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Friday, December 5th. Gaming and Leisure Properties’s dividend payout ratio is currently 113.04%.

Gaming and Leisure Properties Company 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.