Treasurer of the State of North Carolina grew its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,851 shares of the real estate investment trust's stock after buying an additional 6,293 shares during the quarter. Treasurer of the State of North Carolina owned approximately 0.09% of Gaming and Leisure Properties worth $12,514,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Gaming and Leisure Properties by 4.7% in the fourth quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust's stock worth $617,938,000 after purchasing an additional 571,720 shares in the last quarter. Geode Capital Management LLC lifted its position in Gaming and Leisure Properties by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust's stock worth $300,395,000 after buying an additional 165,024 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of 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 acquired a new position in shares of Gaming and Leisure Properties in the fourth quarter worth $176,123,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Gaming and Leisure Properties by 15.2% during the fourth 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.
Insider Activity
In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew Demchyk sold 10,474 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $48.62, for a total value of $509,245.88. Following the completion of the transaction, the senior vice president now owns 71,757 shares in the company, valued at approximately $3,488,825.34. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,933 shares of company stock worth $2,533,487. 4.37% of the stock is owned by corporate insiders.
Gaming and Leisure Properties Price Performance
Shares of Gaming and Leisure Properties stock traded up $0.46 during trading on Friday, hitting $49.52. 904,292 shares of the company's stock traded hands, compared to its average volume of 1,242,824. The company has a market cap of $13.61 billion, a PE ratio of 17.25, a PEG ratio of 2.01 and a beta of 0.72. The firm's fifty day moving average price is $49.40 and its 200 day moving average price is $49.42. Gaming and Leisure Properties, Inc. has a twelve month low of $41.97 and a twelve month high of $52.60. 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 (NASDAQ:GLPI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The company had revenue of $389.62 million for the quarter, compared to the consensus estimate of $391.54 million. Analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.
Gaming and Leisure Properties Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend was Friday, March 14th. Gaming and Leisure Properties's payout ratio is presently 105.92%.
Analyst Ratings Changes
A number of brokerages have commented on GLPI. Mizuho boosted their target price on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley lowered shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 price objective on the stock. in a research report on Wednesday, January 15th. Barclays decreased their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada dropped their price target on shares of 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. Finally, Scotiabank decreased their price objective 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 research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.11.
Read Our Latest Stock Report on GLPI
Gaming and Leisure Properties Profile
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Free Report)
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.
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