Norges Bank Makes New $175.17 Million Investment in Gaming and Leisure Properties, Inc. $GLPI

Norges Bank purchased a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the second quarter, Holdings Channel reports. The institutional investor purchased 3,752,554 shares of the real estate investment trust’s stock, valued at approximately $175,169,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC lifted 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 acquiring an additional 88,858 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Gaming and Leisure Properties by 49.6% in the 1st quarter. Assetmark Inc. now owns 989 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 328 shares in the last quarter. AGF Management Ltd. lifted its position in shares of 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 worth $3,046,000 after purchasing an additional 9,992 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Gaming and Leisure Properties by 6.0% during the first quarter. Resona Asset Management Co. Ltd. now owns 160,151 shares of the real estate investment trust’s stock worth $8,092,000 after purchasing an additional 9,130 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new position in Gaming and Leisure Properties in the first quarter valued at $354,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Gaming and Leisure Properties Trading Up 0.6%

GLPI opened at $43.80 on Tuesday. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 9.44 and a beta of 0.68. Gaming and Leisure Properties, Inc. has a 52 week low of $42.26 and a 52 week high of $52.24. The business’s 50 day moving average is $44.82 and its two-hundred day moving average is $46.24. The company has a quick ratio of 13.23, a current ratio of 13.23 and a debt-to-equity ratio of 1.47.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $397.61 million during the quarter, compared to the consensus estimate of $399.66 million. Gaming and Leisure Properties had a return on equity of 16.34% and a net margin of 49.54%.The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. Gaming and Leisure Properties has set its FY 2025 guidance at 3.860-3.880 EPS. On average, research analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, December 5th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 113.04%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $45.49, for a total value of $181,960.00. Following the transaction, the director directly owned 129,953 shares in the company, valued at approximately $5,911,561.97. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on GLPI shares. Scotiabank lifted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Cantor Fitzgerald decreased their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Barclays upgraded shares of Gaming and Leisure Properties from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $51.00 to $54.00 in a research note on Monday, October 20th. Stifel Nicolaus reduced their price objective on shares of Gaming and Leisure Properties from $49.50 to $47.50 and set a “hold” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.38.

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.