Allstate Corp Sells 16,907 Shares of Gaming and Leisure Properties, Inc. $GLPI

Allstate Corp lowered its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 22.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 57,477 shares of the real estate investment trust’s stock after selling 16,907 shares during the quarter. Allstate Corp’s holdings in Gaming and Leisure Properties were worth $2,926,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Gaming and Leisure Properties by 3.1% in the first quarter. Wellington Management Group LLP now owns 11,556,825 shares of the real estate investment trust’s stock worth $588,242,000 after acquiring an additional 349,065 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Gaming and Leisure Properties by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,766,108 shares of the real estate investment trust’s stock worth $242,597,000 after buying an additional 77,562 shares in the last quarter. Invesco Ltd. raised its stake in Gaming and Leisure Properties by 127.7% during the first quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust’s stock worth $229,673,000 after acquiring an additional 2,530,463 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Gaming and Leisure Properties by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,293,551 shares of the real estate investment trust’s stock valued at $167,642,000 after purchasing an additional 10,092 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Gaming and Leisure Properties in the first quarter valued at approximately $151,723,000. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $48.15 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60. The firm’s 50-day simple moving average is $46.86 and its 200 day simple moving average is $47.86. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 10.31 and a beta of 0.71.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%.The firm had revenue of $394.90 million for the quarter, compared to the consensus estimate of $397.27 million. During the same period in the prior year, the company earned $0.94 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. As a group, sell-side analysts predict that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $46.54, for a total transaction of $139,620.00. Following the sale, the director directly owned 133,953 shares in the company, valued at $6,234,172.62. This trade represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of research reports. Macquarie reduced their target price on shares of Gaming and Leisure Properties from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Barclays reduced their target price on Gaming and Leisure Properties from $55.00 to $51.00 and set an “equal weight” rating on the stock in a report on Wednesday. Scotiabank decreased their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, May 12th. Wells Fargo & Company decreased their price objective on Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, June 2nd. Finally, Wedbush set a $55.00 target price on Gaming and Leisure Properties in a report on Monday, April 28th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.52.

About Gaming and Leisure Properties

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.