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Desiree A. Burke, CFO and Treasurer of Gaming & Leisure Properties, Inc. (NASDAQ:GLPI), recently disclosed significant stock transactions in a Form 4 filing with the SEC. On January 2 and January 3, Burke sold a total of 51,562 shares of common stock. The sales were executed at prices ranging from $47.41 to $47.78 per share, amounting to a total transaction value of approximately $2.45 million.
In addition to the sales, Burke also reported several acquisitions of common stock on January 2, totaling 92,207 shares. These shares were acquired at no cost as part of performance-based restricted stock awards and dividend receipts related to these awards. Following these transactions, Burke's direct ownership in the company stands at 108,740 shares. With GLPI's market capitalization at $13.06 billion and historically low price volatility, InvestingPro subscribers can access additional insights through comprehensive Pro Research Reports covering 1,400+ US equities.
These transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a trading plan for selling stocks they own.
In other recent news, Gaming and Leisure (NASDAQ:GLPI) Properties Inc. reported a robust third-quarter performance in 2024, planning nearly $2 billion in development activity for the coming year. The company's total income from real estate increased due to acquisitions, while operating expenses rose due to a provision for credit losses. Analyst firms have been active in their assessments of the company, with Deutsche Bank (ETR:DBKGn) upgrading Gaming and Leisure from Hold to Buy and setting a new price target of $54.00. Similarly, JPMorgan shifted its stance on the company, upgrading its stock rating from Neutral to Overweight and increasing the price target for the company's shares to $54.00. Stifel, another analyst firm, raised its price target for Gaming and Leisure to $57.50 while maintaining its Buy rating. The company also expanded its credit facility, amending its credit agreement to increase its revolving commitments from $1.75 billion to $2.09 billion and extend the maturity date to December 2, 2028. These are the recent developments surrounding Gaming and Leisure Properties Inc.
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