Van ECK Associates Corp Cuts Position in Gaming and Leisure Properties, Inc. $GLPI

Van ECK Associates Corp trimmed its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 23.9% during the second quarter, Holdings Channel reports. The firm owned 77,540 shares of the real estate investment trust’s stock after selling 24,411 shares during the quarter. Van ECK Associates Corp’s holdings in Gaming and Leisure Properties were worth $3,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Gaming and Leisure Properties in the second quarter valued at $1,596,811,000. Cohen & Steers Inc. purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $313,242,000. Norges Bank purchased a new position in Gaming and Leisure Properties during the 4th quarter valued at about $167,743,000. Deutsche Bank AG acquired a new position in Gaming and Leisure Properties in the 2nd quarter valued at about $151,300,000. Finally, Bank of New York Mellon Corp purchased a new stake in Gaming and Leisure Properties during the second quarter worth about $111,960,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Up 0.0%

Shares of Gaming and Leisure Properties stock opened at $42.36 on Friday. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 1.51. Gaming and Leisure Properties, Inc. has a 52-week low of $41.17 and a 52-week high of $49.95. The company has a market capitalization of $12.32 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.77 and a beta of 0.65. The company has a 50 day moving average of $43.82 and a 200 day moving average of $45.86.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The company had revenue of $430.52 million for the quarter, compared to the consensus estimate of $428.51 million. During the same period in the prior year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. As a group, research analysts forecast that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, September 11th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 96.19%.

Insider Activity at Gaming and Leisure Properties

In related news, Director E. Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $48.32, for a total transaction of $144,960.00. Following the sale, the director directly owned 127,429 shares in the company, valued at $6,157,369.28. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl C. Shanks acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $42.24 per share, for a total transaction of $422,400.00. Following the acquisition, the director owned 107,259 shares of the company’s stock, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GLPI has been the topic of several research reports. Weiss Ratings cut shares of Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald cut their target price on shares of Gaming and Leisure Properties from $52.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Raymond James Financial reiterated an “outperform” rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a report on Thursday, August 13th. Mizuho decreased their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Stifel Nicolaus dropped their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

About Gaming and Leisure Properties

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.