{"id":288007,"date":"2023-09-01T17:32:03","date_gmt":"2023-09-01T22:32:03","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=288007"},"modified":"2023-09-04T14:25:02","modified_gmt":"2023-09-04T19:25:02","slug":"gaming-and-leisure-properties-promoted-to-sp-midcap-400","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/","title":{"rendered":"Gaming and Leisure Properties to Join S&P MidCap 400 Index"},"content":{"rendered":"

Gaming and Leisure Properties (NASDAQ: GLPI) earned an important index as Standard & Poor\u2019s (S&P) announced late Friday that the stock will be promoted to the S&P MidCap 400 Index.<\/p>\n

\"Gaming
A slide from a Gaming and Leisure Properties presentation. The stock is joining the S&P MidCap 400 Index. (Image: Seeking Alpha<\/em>)<\/figcaption><\/figure>\n

The gaming real estate investment trust (REIT) is one of 10 stocks being elevated to the mid-cap benchmark from the S&P SmallCap 600 Index. While there\u2019s some debate, the standard definition of mid-cap equities is those with market values of $2 billion to $10 billion. At today\u2019s close, Gaming and Leisure<\/a> had a market capitalization of $12.45 billion — far too large for the small-cap index.<\/p>\n

The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space,\u201d<\/strong> according to S&P Dow Jones Indices.<\/p><\/blockquote>\n

Gaming and Leisure Properties will join the mid-cap index prior to the open of U.S. markets on Monday, Sept. 18.<\/p>\n

Why it Matters for GLPI Investors<\/h2>\n

With its inclusion in the S&P MidCap 400 Index, GLPI shares will be on the radars of a broader set of institutional investors<\/a>.<\/p>\n

All active fund managers that benchmark to that gauge will need to purchase shares of the slot machine maker. Likewise, passive funds, including exchange-traded funds (ETFs) that follow that index, will also need to add the gaming stock.<\/p>\n

\n

Indeed, there are some massive ETFs that track the mid-cap gauge. For example, the SPDR S&P MIDCAP 400 ETF Trust (NYSEARCA: MDY) has $19.74 billion in assets under management, while the iShares Core S&P Mid-Cap ETF (NYSEARCA: IJH) has $74.67 billion in assets. The Vanguard S&P MidCap 400 ETF (NYSEARCA: IVOO) had $1.7 billion in assets as of July 31.<\/p>\n<\/div>\n

In other gaming-related indexing news, private equity behemoth Blackstone (NYSE: BX), the owner of the real estate<\/a> of several well-known Las Vegas Strip casino resorts, is joining the S&P 500.<\/p>\n

News Caps Busy Week for GLPI<\/h2>\n

News of the stock\u2019s upcoming inclusion in the S&P MidCap 400 Index capped a busy week for Gaming and Leisure. On Tuesday, the REIT announced it\u2019s paying $100 million<\/a> for the real estate associated with the Hard Rock Casino development in Rockford, Ill.<\/p>\n

On Thursday, the company announced it is increasing its quarterly dividend by a penny a share to 73 cents, marking its second payout increase this year. The stock, which is down 8.54% year-to-date, sports a dividend yield of 6.07%.<\/strong><\/p>\n

\u201cThe dividend is payable on September 29, 2023 to shareholders of record on September 15, 2023. The third quarter 2022 cash dividend was $0.705 per share of the Company\u2019s common stock,\u201d according to a statement issued by the Pennsylvania-based REIT.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gaming and Leisure Properties (NASDAQ: GLPI) earned an important index as Standard & Poor\u2019s (S&P) announced late Friday that the stock will be promoted to the S&P MidCap 400 Index. The gaming real estate investment trust (REIT) is one of 10 stocks being elevated to the mid-cap benchmark from the S&P SmallCap 600 Index. While […]<\/p>\n","protected":false},"author":46,"featured_media":288012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[81903],"acf":[],"yoast_head":"\nGaming and Leisure Properties Promoted To S&P MidCap 400<\/title>\n<meta name=\"description\" content=\"Gaming and Leisure Properties to be included in S&P MidCap 400 Index.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gaming and Leisure Properties Promoted To S&P MidCap 400\" \/>\n<meta property=\"og:description\" content=\"Gaming and Leisure Properties to be included in S&P MidCap 400 Index.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-01T22:32:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-04T19:25:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/GLPI3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1055\" \/>\n\t<meta property=\"og:image:height\" content=\"433\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/\",\"url\":\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/\",\"name\":\"Gaming and Leisure Properties Promoted To S&P MidCap 400\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/GLPI3.png\",\"datePublished\":\"2023-09-01T22:32:03+00:00\",\"dateModified\":\"2023-09-04T19:25:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Gaming and Leisure Properties to be included in S&P MidCap 400 Index.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-and-leisure-properties-promoted-to-sp-midcap-400\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/GLPI3.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/GLPI3.png\",\"width\":1055,\"height\":433,\"caption\":\"A slide from a Gaming and Leisure Properties presentation. 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