Baron Partners Fund’s Top Contributor: Gaming and Leisure Properties (GLPI)

Baron Funds, an asset management company, released its “Baron Partners Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund declined 30.55% in the second quarter compared to a 21.07% decline in the Russell Midcap Growth Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the second quarter investor letter. Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is a real estate investment trust which acquires, finances, and owns real estate property to be leased to gaming operators. On September 13, 2022, Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) stock closed at $48.84 per share. One-month return of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was -7.15% and its shares gained 1.39% of their value over the last 52 weeks. Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has a market capitalization of $12.885 billion.

Here is what Baron Funds specifically said about Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in its Q2 2022 investor letter:

“Gaming and Leisure Properties, Inc. (NASDAQ:GLPI), a gaming REIT that owns the real estate of many casino operators, contributed to performance on the strength of its well-covered dividend yield and prospects for growth even in a recessionary economy. Its tenants remain solvent and flush with cash, which suggests that rent payments should remain steady regardless of the economic environment. A strong balance sheet allows for additional acquisitions, which should be accretive to the dividend and enhance shareholder returns.”

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Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) at the end of the second quarter which was 30 in the previous quarter.

We discussed Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in another article and shared the dividend stocks to buy according to Stuart Zimmer’s Zimmer Partners. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.