Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 299,818 shares of the real estate investment trust’s stock after acquiring an additional 385 shares during the period. State of Alaska Department of Revenue owned about 0.11% of Gaming and Leisure Properties worth $13,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Gaming and Leisure Properties by 1.5% during the 3rd 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 acquiring an additional 555,332 shares during the period. Wellington Management Group LLP lifted its position in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock valued at $627,204,000 after acquiring an additional 3,684,553 shares during the period. Putnam Investments LLC lifted its position in shares of Gaming and Leisure Properties by 3.1% during the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after acquiring an additional 282,828 shares during the period. Principal Financial Group Inc. lifted its position in shares of Gaming and Leisure Properties by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock valued at $440,259,000 after acquiring an additional 150,055 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Gaming and Leisure Properties by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,489,160 shares of the real estate investment trust’s stock valued at $252,886,000 after acquiring an additional 211,709 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GLPI. Stifel Nicolaus upped their target price on Gaming and Leisure Properties from $50.75 to $51.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Mizuho reduced their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Scotiabank upped their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.33.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $44.10 on Thursday. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. The firm’s 50-day moving average price is $44.28 and its two-hundred day moving average price is $45.35. Gaming and Leisure Properties, Inc. has a 52-week low of $41.80 and a 52-week high of $50.06. The stock has a market capitalization of $11.97 billion, a P/E ratio of 16.27, a P/E/G ratio of 5.17 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The business had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. During the same period in the prior year, the business earned $0.92 EPS. The business’s revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.65 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, June 21st. Shareholders of record on Friday, June 7th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 6.89%. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Gaming and Leisure Properties Profile

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.