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Several institutional investors have adjusted their stakes in Gaming and Leisure Properties (GLPI). Wellington Management increased its holdings by 40.8%, acquiring 3.68 million additional shares, totaling 12.71 million shares worth $627.2 million. Similarly, Putnam Investments raised its stake by 3.1%, now owning 9.51 million shares valued at $469.4 million. Allspring Global Investments lifted its stake by 4%, while Dimensional Fund Advisors and Price T Rowe Associates raised theirs by 9.3% and 36.7%, respectively. Currently, institutional investors own 91.14% of GLPI shares.
GLPI Trading Update
GLPI shares opened at $51.15, with a market cap of $13.89 billion, a PE ratio of 18.87, and a 12-month low/high of $41.80/$52.60. The stock’s moving averages stand at $50.51 (50-day) and $46.79 (200-day).
GLPI reported $0.77 EPS for Q2, missing estimates by $0.15, with a revenue of $380.60 million, up 6.7% from the previous year. Analysts project 3.67 EPS for the current fiscal year.
Dividend Announcement
GLPI declared a quarterly dividend of $0.76 per share on September 27th, translating to an annualized yield of 5.94%. The payout ratio is currently 112.18%.
Insider Activity
Director E Scott Urdang sold 5,605 shares at $48.89 each, totaling over $274,000. COO Brandon Moore also sold 30,900 shares at $50.05, for a total of $1.55 million. Insiders have sold 49,478 shares valued at $2.50 million recently.
Analyst Ratings
Analysts upgraded GLPI to an outperform rating with a $57 price target. The stock has a Moderate Buy consensus with a price target of $52.18 based on multiple analyst reports.
Get Our Latest Research Report on GLPI
About Gaming and Leisure Properties
GLPI acquires and finances properties to lease to gaming operators with tenants responsible for property maintenance and taxes.
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