Microvast Holdings announces departure of chief financial officer
Matthew Demchyk, the Senior Vice President and Chief Investment Officer of Gaming & Leisure Properties , Inc. (NASDAQ:GLPI), recently executed a series of stock sales totaling $228,135, according to a recent SEC filing. The transactions were carried out under a pre-established Rule 10b5-1 trading plan.
On February 28, Demchyk sold 1,138 shares at a weighted average price of $50.45. Following this, on March 3, he sold an additional 3,382 shares at a weighted average price of $50.48. These sales were conducted within a price range of $50.45 to $50.53 per share, with the stock trading near its 52-week high of $52.59.
After these transactions, Demchyk retains ownership of 49,620 shares of Gaming & Leisure Properties common stock. Additionally, he holds 15,000 LTIP Units, which are units of limited partnership interests in GLP Capital, L.P., set to vest over three years.
In other recent news, Gaming and Leisure Properties reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.79, compared to the forecasted $0.73. However, the company’s revenue slightly missed expectations, coming in at $389.6 million against a forecast of $391.56 million. Despite the revenue miss, the company plans significant development funding of $400 million in 2025, focusing on gaming real estate opportunities. JMP Securities maintained a Market Outperform rating for Gaming and Leisure Properties, with a price target of $55, noting the company’s attractive investment opportunity and robust revenue stream.
The company continues to explore potential growth drivers, such as joining a consortium for the New York downstate casino license and activating Bally’s Lincoln call right, valued at $735 million with an 8.0% yield. Additionally, Gaming and Leisure Properties plans an $850 million bond redemption in March 2025. The company has demonstrated solid performance, with total income from real estate surpassing the previous year’s fourth quarter by over $20 million. Analysts have noted the company’s strategic focus on tribal gaming opportunities and sale-leaseback transactions as key growth areas.
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