State of Michigan Retirement System Has $3.02 Million Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

State of Michigan Retirement System grew its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,600 shares of the real estate investment trust’s stock after purchasing an additional 1,500 shares during the quarter. State of Michigan Retirement System’s holdings in Gaming and Leisure Properties were worth $3,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. grew its position in Gaming and Leisure Properties by 3.0% during the third quarter. Raleigh Capital Management Inc. now owns 6,872 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 203 shares in the last quarter. Moody National Bank Trust Division grew its position in Gaming and Leisure Properties by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,068 shares of the real estate investment trust’s stock worth $878,000 after buying an additional 231 shares in the last quarter. Securian Asset Management Inc. grew its position in Gaming and Leisure Properties by 1.3% during the fourth quarter. Securian Asset Management Inc. now owns 22,534 shares of the real estate investment trust’s stock worth $1,112,000 after buying an additional 289 shares in the last quarter. Corient Private Wealth LLC grew its position in Gaming and Leisure Properties by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 17,844 shares of the real estate investment trust’s stock worth $881,000 after buying an additional 327 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its position in Gaming and Leisure Properties by 4.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 7,583 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 354 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GLPI. Morgan Stanley reissued an “overweight” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, June 21st. JMP Securities reissued a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, June 17th. Mizuho cut their target price on Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada cut their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.33.

Gaming and Leisure Properties Stock Up 0.5 %

Shares of GLPI opened at $44.10 on Thursday. 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 price-to-earnings ratio of 16.27, a PEG ratio of 5.32 and a beta of 0.98. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The stock has a fifty day moving average of $44.28 and a 200-day moving average of $45.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.65 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.89%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s dividend 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.