Nomura Asset Management Co. Ltd. Has $16.45 Million Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

26 Jan 2024, 16:46 by Jessica Moore · The Cerbat Gem

Nomura Asset Management Co. Ltd. cut its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Free Report) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 361,066 shares of the real estate investment trust’s stock after selling 33,161 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.14% of Gaming and Leisure Properties worth $16,447,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors LLC grew its position in shares of Gaming and Leisure Properties by 203.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 343 shares during the period. Salem Investment Counselors Inc. acquired a new position in shares of Gaming and Leisure Properties in the second quarter valued at approximately $30,000. Lee Financial Co increased its holdings in shares of Gaming and Leisure Properties by 1,447.7% during the second quarter. Lee Financial Co now owns 681 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 637 shares during the period. Zions Bancorporation N.A. acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at approximately $43,000. Finally, Covestor Ltd raised its position in shares of Gaming and Leisure Properties by 344.1% in the 2nd quarter. Covestor Ltd now owns 1,008 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 781 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Activity

In other news, CFO Desiree A. Burke sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $49.31, for a total value of $78,896.00. Following the transaction, the chief financial officer now directly owns 147,710 shares of the company’s stock, valued at approximately $7,283,580.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Matthew Demchyk sold 25,391 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $48.87, for a total value of $1,240,858.17. Following the completion of the sale, the senior vice president now directly owns 57,976 shares in the company, valued at $2,833,287.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Desiree A. Burke sold 1,600 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $49.31, for a total transaction of $78,896.00. Following the sale, the chief financial officer now directly owns 147,710 shares in the company, valued at $7,283,580.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,614 shares of company stock valued at $2,621,353. Insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock traded down $0.05 during trading on Friday, hitting $46.00. The company had a trading volume of 1,292,607 shares, compared to its average volume of 1,339,989. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 4.80 and a beta of 0.98. The business has a 50 day moving average of $47.17 and a 200 day moving average of $46.98. Gaming and Leisure Properties, Inc. has a fifty-two week low of $43.54 and a fifty-two week high of $55.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were paid a $0.73 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.92 annualized dividend and a dividend yield of 6.35%. Gaming and Leisure Properties’s payout ratio is 106.57%.

Analysts Set New Price Targets

GLPI has been the topic of several research reports. The Goldman Sachs Group began coverage on Gaming and Leisure Properties in a report on Friday, December 8th. They set a “neutral” rating and a $51.00 price target on the stock. JPMorgan Chase & Co. lowered Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $48.00 target price for the company. in a report on Thursday, December 14th. Wedbush began coverage on Gaming and Leisure Properties in a report on Tuesday, October 3rd. They issued an “outperform” rating and a $51.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, November 20th. Finally, StockNews.com initiated coverage on Gaming and Leisure Properties in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average target price of $52.73.

View Our Latest Stock Report on Gaming and Leisure Properties

Gaming and Leisure Properties 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.