Resona Asset Management Co. Ltd. Grows Holdings in Gaming and Leisure Properties, Inc. $GLPI

Resona Asset Management Co. Ltd. boosted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,406 shares of the real estate investment trust’s stock after acquiring an additional 14,373 shares during the period. Resona Asset Management Co. Ltd. owned 0.06% of Gaming and Leisure Properties worth $7,742,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dodge & Cox increased its stake in shares of Gaming and Leisure Properties by 0.8% in the second quarter. Dodge & Cox now owns 13,618,357 shares of the real estate investment trust’s stock worth $635,705,000 after purchasing an additional 108,748 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Gaming and Leisure Properties by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 6,948,979 shares of the real estate investment trust’s stock worth $323,683,000 after buying an additional 483,174 shares during the period. Invesco Ltd. increased its stake in Gaming and Leisure Properties by 3.2% in the 2nd quarter. Invesco Ltd. now owns 4,657,406 shares of the real estate investment trust’s stock worth $217,408,000 after buying an additional 145,172 shares in the last quarter. Jennison Associates LLC raised its holdings in Gaming and Leisure Properties by 8.1% during the second quarter. Jennison Associates LLC now owns 4,599,033 shares of the real estate investment trust’s stock valued at $214,683,000 after acquiring an additional 346,462 shares during the period. Finally, Norges Bank bought a new stake in Gaming and Leisure Properties during the second quarter valued at about $175,169,000. 91.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GLPI shares. Stifel Nicolaus set a $47.75 price objective on Gaming and Leisure Properties in a research note on Monday, December 15th. Cantor Fitzgerald lowered their price target on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Barclays dropped their price target on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Mizuho set a $50.00 price objective on shares of Gaming and Leisure Properties and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Thursday. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

Gaming and Leisure Properties Stock Performance

NASDAQ:GLPI opened at $45.32 on Tuesday. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.51 and a beta of 0.67. Gaming and Leisure Properties, Inc. has a 1 year low of $41.17 and a 1 year high of $52.24. The stock’s 50 day simple moving average is $44.20 and its two-hundred day simple moving average is $45.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 13.23 and a quick ratio of 13.23.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Gaming and Leisure Properties had a return on equity of 16.34% and a net margin of 49.54%.The firm had revenue of $397.61 million during the quarter, compared to the consensus estimate of $399.66 million. During the same period in the prior year, the company earned $0.95 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2025 guidance at 3.860-3.880 EPS. As a group, equities analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.78 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.9%. Gaming and Leisure Properties’s payout ratio is 113.04%.

Insider Activity

In other news, Director E Scott Urdang sold 4,000 shares of the company’s stock in a transaction dated 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 directly owned 129,953 shares in the company, valued at approximately $5,911,561.97. This represents a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven Ladany sold 13,409 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $45.04, for a total value of $603,941.36. Following the completion of the transaction, the senior vice president owned 57,886 shares of the company’s stock, valued at approximately $2,607,185.44. This represents a 18.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,864 shares of company stock worth $1,832,866 over the last 90 days. Corporate insiders own 4.26% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.