California Public Employees Retirement System Sells 17,501 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

California Public Employees Retirement System lessened its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 489,955 shares of the real estate investment trust’s stock after selling 17,501 shares during the period. California Public Employees Retirement System’s holdings in Gaming and Leisure Properties were worth $23,841,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLPI. MV Capital Management Inc. bought a new position in Gaming and Leisure Properties during the third quarter worth about $26,000. National Bank of Canada FI bought a new position in Gaming and Leisure Properties during the fourth quarter worth about $34,000. O Shaughnessy Asset Management LLC lifted its stake in Gaming and Leisure Properties by 118.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 762 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 413 shares during the period. Huntington National Bank lifted its stake in Gaming and Leisure Properties by 28.0% during the fourth quarter. Huntington National Bank now owns 1,078 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 236 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Gaming and Leisure Properties by 68.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,108 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 449 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.

GLPI has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on shares of Gaming and Leisure Properties in a research note on Thursday, January 20th. They set a “buy” rating and a $54.00 price target for the company. Morgan Stanley cut their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, January 18th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Finally, Mizuho dropped their price objective on shares of Gaming and Leisure Properties from $56.00 to $47.00 in a report on Thursday, January 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $52.55.

In other Gaming and Leisure Properties news, EVP Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $48.21, for a total transaction of $144,630.00. Following the completion of the sale, the executive vice president now owns 191,993 shares of the company’s stock, valued at approximately $9,255,982.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry F. Schwartz bought 2,500 shares of the stock in a transaction on Monday, March 14th. The shares were acquired at an average cost of $44.77 per share, with a total value of $111,925.00. The disclosure for this purchase can be found here. 5.53% of the stock is currently owned by insiders.

Shares of Gaming and Leisure Properties stock opened at $44.82 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $11.09 billion, a P/E ratio of 20.37, a P/E/G ratio of 3.08 and a beta of 1.03. The firm has a 50 day simple moving average of $45.44 and a 200 day simple moving average of $45.84. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.81 and a fifty-two week high of $51.46.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.37). The company had revenue of $315.00 million during the quarter, compared to analyst estimates of $303.98 million. Gaming and Leisure Properties had a net margin of 42.79% and a return on equity of 16.86%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. On average, sell-side analysts expect that Gaming and Leisure Properties, Inc. will post 3.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Thursday, June 9th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.69. Gaming and Leisure Properties’s payout ratio is currently 125.45%.

Gaming and Leisure Properties Profile (Get Rating)

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

See Also

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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