Cerity Partners LLC Decreases Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Posted by Defense World Staff on Sep 3rd, 2023

Cerity Partners LLC lessened its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 35.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,359 shares of the real estate investment trust’s stock after selling 1,824 shares during the period. Cerity Partners LLC’s holdings in Gaming and Leisure Properties were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ExodusPoint Capital Management LP increased its holdings in shares of Gaming and Leisure Properties by 1,359.0% in the 1st quarter. ExodusPoint Capital Management LP now owns 136,041 shares of the real estate investment trust’s stock valued at $7,082,000 after acquiring an additional 126,717 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Gaming and Leisure Properties by 9.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 546,353 shares of the real estate investment trust’s stock valued at $28,443,000 after buying an additional 48,285 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at $177,000. Commonwealth Equity Services LLC boosted its holdings in shares of Gaming and Leisure Properties by 11.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 18,969 shares of the real estate investment trust’s stock valued at $987,000 after buying an additional 1,948 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Gaming and Leisure Properties by 63.8% in the 1st quarter. Citigroup Inc. now owns 292,152 shares of the real estate investment trust’s stock valued at $15,209,000 after buying an additional 113,771 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Gaming and Leisure Properties Stock Performance

GLPI stock opened at $47.42 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 4.09 and a beta of 0.98. Gaming and Leisure Properties, Inc. has a 1 year low of $43.46 and a 1 year high of $55.13. The stock’s fifty day moving average is $47.75 and its two-hundred day moving average is $49.65.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.73 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.92 annualized dividend and a yield of 6.16%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 99.65%.

Insiders Place Their Bets

In other news, Director Barry F. Schwartz bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $47.74 per share, with a total value of $47,740.00. Following the completion of the purchase, the director now directly owns 53,823 shares of the company’s stock, valued at approximately $2,569,510.02. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Barry F. Schwartz purchased 1,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $45.83 per share, with a total value of $68,745.00. Following the completion of the purchase, the director now owns 55,323 shares of the company’s stock, valued at approximately $2,535,453.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry F. Schwartz purchased 1,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $47.74 per share, with a total value of $47,740.00. Following the purchase, the director now owns 53,823 shares in the company, valued at approximately $2,569,510.02. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,500 shares of company stock worth $163,835. 4.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GLPI has been the subject of several research reports. UBS Group boosted their target price on Gaming and Leisure Properties from $55.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, August 29th. JMP Securities reissued a “market outperform” rating and issued a $57.00 target price on shares of Gaming and Leisure Properties in a report on Thursday. Deutsche Bank Aktiengesellschaft cut shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating and cut their target price for the company from $60.00 to $52.00 in a report on Wednesday, July 5th. Mizuho cut their target price on shares of Gaming and Leisure Properties from $53.00 to $50.00 in a report on Thursday, August 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.80.

View Our Latest Stock Analysis on Gaming and Leisure Properties

Gaming and Leisure Properties Company Profile

(Free Report)

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.