Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 41.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 924,388 shares of the real estate investment trust’s stock after purchasing an additional 270,667 shares during the quarter. California Public Employees Retirement System owned approximately 0.35% of Gaming and Leisure Properties worth $45,619,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Gaming and Leisure Properties by 1.5% during the third quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock valued at $1,711,432,000 after buying an additional 555,332 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Gaming and Leisure Properties by 15.7% during the 3rd quarter. Principal Financial Group Inc. now owns 8,771,108 shares of the real estate investment trust’s stock valued at $399,523,000 after acquiring an additional 1,188,397 shares in the last quarter. FMR LLC lifted its stake in Gaming and Leisure Properties by 5.6% during the third quarter. FMR LLC now owns 6,436,482 shares of the real estate investment trust’s stock worth $293,182,000 after purchasing an additional 340,784 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Gaming and Leisure Properties by 5.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,277,451 shares of the real estate investment trust’s stock worth $260,442,000 after purchasing an additional 275,026 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Gaming and Leisure Properties by 54.8% in the fourth quarter. Jennison Associates LLC now owns 3,378,874 shares of the real estate investment trust’s stock worth $166,747,000 after purchasing an additional 1,195,765 shares during the period. Institutional investors own 91.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director E Scott Urdang purchased 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Morgan Stanley cut their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, Mizuho reduced their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.09.

Gaming and Leisure Properties Trading Down 2.2 %

Gaming and Leisure Properties stock opened at $42.46 on Friday. The firm has a 50 day simple moving average of $44.87 and a 200-day simple moving average of $45.91. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The stock has a market capitalization of $11.53 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 5.43 and a beta of 0.94. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $52.31.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.76 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 7.16%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

About Gaming and Leisure Properties

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.