Crispr Therapeutics shares tumble after significant earnings miss
Matthew Demchyk, Senior Vice President and Chief Investment Officer of Gaming & Leisure Properties , Inc. (NASDAQ:GLPI), recently sold 17,617 shares of the company’s common stock. The shares were sold at a weighted average price of $49.4, resulting in a total transaction value of approximately $870,279. Following this sale, Demchyk retains ownership of 54,140 shares in the company.
The transaction was executed under a pre-arranged trading plan adopted on September 13, 2024. Demchyk also holds 15,000 LTIP Units, which are set to vest over a three-year period, contingent on his continued service with the company.
In other recent news, RBC Capital released its ’2025 Global Real Estate Outlook,’ indicating a divergence in performance between Canadian and US real estate investment trusts (REITs). Despite the underperformance of Canadian REITs, RBC Capital finds the Canadian sector increasingly attractive due to recent valuation pullbacks. In contrast, US REIT valuations appear extended, with the report projecting US REITs to achieve flat to slightly positive total returns in 2025.
In other recent developments, Gaming and Leisure 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, including JPMorgan, Deutsche Bank (ETR:DBKGn), and Stifel, have recently upgraded their ratings and price targets for the company.
Furthermore, Gaming & Leisure Properties Inc. expanded its credit facility, increasing its revolving commitments from $1.75 billion to $2.09 billion and extending the maturity date to December 2, 2028. This move provides the company with enhanced financial flexibility. Despite a slight decrease in fourth-quarter earnings guidance to $0.93 due to a recent equity raise, the company continues to focus solely on gaming, maintaining a target leverage range of 5 to 5.5.
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