Renaissance Technologies LLC Increases Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Renaissance Technologies LLC raised its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 196.1% during the fourth quarter, Holdings Channel reports. The firm owned 194,030 shares of the real estate investment trust’s stock after buying an additional 128,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Gaming and Leisure Properties were worth $9,344,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GLPI. Franklin Resources Inc. boosted its stake in shares of Gaming and Leisure Properties by 4.7% during the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock valued at $617,938,000 after purchasing an additional 571,720 shares in the last quarter. Geode Capital Management LLC boosted its position in Gaming and Leisure Properties by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust’s stock valued at $300,395,000 after acquiring an additional 165,024 shares in the last quarter. Jennison Associates LLC boosted its position in Gaming and Leisure Properties by 5.2% during the 4th quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust’s stock valued at $206,468,000 after acquiring an additional 211,657 shares in the last quarter. Norges Bank purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $176,123,000. Finally, Bank of New York Mellon Corp raised its position in shares of Gaming and Leisure Properties by 15.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,981,567 shares of the real estate investment trust’s stock worth $143,592,000 after acquiring an additional 394,069 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Up 0.9 %

GLPI stock opened at $49.52 on Friday. The stock has a market capitalization of $13.61 billion, a P/E ratio of 17.25, a P/E/G ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35. Gaming and Leisure Properties, Inc. has a 1-year low of $41.97 and a 1-year high of $52.60. The business has a fifty day moving average price of $49.40 and a 200-day moving average price of $49.42.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The business had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. Equities analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.14%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GLPI. Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Morgan Stanley downgraded shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price on the stock. in a research report on Wednesday, January 15th. Mizuho lifted their price target on shares of Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Barclays cut their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Scotiabank lowered their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.11.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,903 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $51.99, for a total value of $98,936.97. Following the transaction, the senior vice president now owns 41,298 shares of the company’s stock, valued at approximately $2,147,083.02. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $50.89, for a total value of $254,450.00. Following the sale, the director now owns 140,953 shares of the company’s stock, valued at approximately $7,173,098.17. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,933 shares of company stock valued at $2,533,487. Company insiders own 4.37% of the company’s stock.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.