Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Stake Lifted by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741,768 shares of the real estate investment trust’s stock after acquiring an additional 330 shares during the period. Retirement Systems of Alabama owned approximately 0.27% of Gaming and Leisure Properties worth $37,756,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GLPI. Principal Securities Inc. boosted its holdings in Gaming and Leisure Properties by 7.8% during the fourth quarter. Principal Securities Inc. now owns 16,538 shares of the real estate investment trust’s stock worth $796,000 after buying an additional 1,197 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Gaming and Leisure Properties by 18.6% during the fourth quarter. Sanctuary Advisors LLC now owns 38,311 shares of the real estate investment trust’s stock worth $1,855,000 after buying an additional 5,995 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Gaming and Leisure Properties by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 8,380 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 432 shares in the last quarter. Truist Financial Corp boosted its holdings in Gaming and Leisure Properties by 4.6% during the fourth quarter. Truist Financial Corp now owns 118,923 shares of the real estate investment trust’s stock worth $5,727,000 after buying an additional 5,215 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Gaming and Leisure Properties by 1.7% during the fourth quarter. D.A. Davidson & CO. now owns 19,556 shares of the real estate investment trust’s stock worth $942,000 after buying an additional 332 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Barclays raised their price objective on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Macquarie reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Royal Bank Of Canada decreased their price objective on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Finally, Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Gaming and Leisure Properties Stock Up 0.6%

GLPI stock opened at $46.68 on Friday. Gaming and Leisure Properties, Inc. has a 12-month low of $43.44 and a 12-month high of $52.60. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 1.51. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 3.21 and a beta of 0.72. The company has a 50 day moving average of $47.15 and a two-hundred day moving average of $48.28.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. The company had revenue of $395.24 million during the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.68%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 111.03%.

Insider Activity

In other news, Director E Scott Urdang sold 4,000 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $46.58, for a total transaction of $186,320.00. Following the transaction, the director now owns 136,953 shares in the company, valued at approximately $6,379,270.74. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.26% of the stock is owned by insiders.

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.