Gaming & Leisure Properties, Inc. (NASDAQ:GLPI) has reported a significant stock transaction by one of its top executives. Brandon John Moore, COO, General Counsel, and Company Secretary, sold 30,900 shares of common stock at an average price of $50.05 per share, for a total of $1,546,545. The transaction took place on August 23, 2024, as disclosed in the new filing.
The sale was made under a regulated 10b5-1 trading plan, which allows company insiders to set a schedule for selling shares when they don’t have nonpublic information. This plan was adopted by Moore on May 24, 2024, indicating that the sale was planned in advance.
Investors may find the price range of shares traded particularly attractive. The stock traded in a range of $49.81 to $50.30, with an average reported price of $50.05. If there is Gaming and Leisure (NASDAQ:) Properties, Inc. security holders or the staff of the Securities and Exchange Commission requested, Moore agreed to provide full information on the number of shares sold at each price in a specified range.
After the transaction, Moore still owns most of the stock in the company. The filing indicated that, after the sale, he retained direct ownership of 208,977 shares of common stock. In addition, indirect ownership of 1,319 shares is held by Moore’s daughter.
Gaming & Leisure Properties, Inc., based in Wyomissing, Pennsylvania, is a real estate investment trust (REIT) specializing in casino properties. Company stock performance and insider transactions are closely watched by investors, as they can provide insight into a company’s financial health and confidence that executives have the company’s future prospects.
In other recent news, Gaming and Leisure Properties Inc. has been the subject of several major developments. Wolfe Research has upgraded the company’s stock from Peer Perform to Outperform, citing attractive growth prospects and valuation multiples. The company expects that Gaming and Leisure Properties earnings could more than double between 4% and 5% in 2025 and 2026, driven by long-standing projects.
The company also announced a massive public offering of notes valued at $1.2 billion, to be used for various corporate activities including property development and debt repayment. In addition, Gaming and Leisure Properties reported a $24 million year-over-year increase in total income from real estate and a detailed $1.6 billion transaction with Bally’s, to be financed through a mix of debt and equity.
RBC Capital Markets revised their price target on Gaming and Leisure Properties, increasing it from $52.00 to $53.00, while maintaining an Outperform rating. This adjustment follows the company’s most recent financial report, which RBC Capital found was in line with projections.
Finally, the company is actively involved in projects in Chicago and expressed confidence in the profitability and reliability of tenants and rents, despite a slight decrease in the rent coverage ratio. This is one of the latest developments for Gaming and Leisure Properties.
InvestingPro Insights
Gaming & Leisure Properties, Inc. (NASDAQ:GLPI) showed solid financial performance, as reflected in the latest metrics. The company’s market capitalization is about $14.41 billion, reflecting its significant presence in the real estate investment trust (REIT) market. With a Price/Earnings (P/E) ratio of 17.66, and a slightly adjusted P/E of 18.01 for the trailing twelve months in Q2 2024, investors can gauge the company’s earnings relative to its share price, which appears to be in the upside. some enough for the sector.
In addition, the company’s revenue growth was recorded, with an increase of 7.47% over the last twelve months in Q2 2024, and a quarterly growth rate of 6.74%. This consistent growth trajectory is an encouraging sign for investors looking for stability and progress in their investments. The gross profit margin is impressive at 96.53%, showing that Gaming & Leisure Properties has been very effective in maintaining profitability after accounting for sales costs.
One of InvestingPro’s Tips highlights that analysts have revised earnings upward for the upcoming period, which could be an indication of future performance. Additionally, the company’s liquid assets exceed short-term liabilities, providing a comfortable liquidity cushion. Investors may take interest in the fact that the company’s shares are trading near a 52-week high and have seen a strong return over the last three months, with a 15.6% total return in that period.
For those interested in learning more, there are additional InvestingPro Tips available for Gaming & Leisure Properties, Inc. on the InvestingPro platform, including forecasts of company profits this year and performance over the past twelve months. It is worth noting that the company has been profitable during this period, which could be a deciding factor for those thinking of adding GLPI to their portfolio.
For more in-depth analysis and other InvestingPro Tips, visit https://www.investing.com/pro/GLPI to explore various metrics and expert insights relevant to Gaming & Leisure Properties, Inc.
This article was created with the support of AI and was reviewed by the editor. For more information see our T&C.
