California Public Employees Retirement System Acquires 270,667 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

California Public Employees Retirement System increased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 41.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 924,388 shares of the real estate investment trust’s stock after acquiring an additional 270,667 shares during the quarter. California Public Employees Retirement System’s holdings in Gaming and Leisure Properties were worth $45,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties during the third quarter worth about $32,000. Armstrong Advisory Group Inc. raised its position in shares of Gaming and Leisure Properties by 166.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 751 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Gaming and Leisure Properties in the third quarter worth $79,000. CWM LLC boosted its position in shares of Gaming and Leisure Properties by 38.7% during the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 545 shares during the last quarter. Finally, Rocky Mountain Advisers LLC purchased a new position in Gaming and Leisure Properties during the fourth quarter valued at $103,000. Institutional investors own 91.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GLPI shares. Mizuho dropped their price objective 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. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Morgan Stanley lowered their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Finally, 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. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.09.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the transaction, the director now owns 156,685 shares in the company, valued at $7,050,825. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 4.40% of the stock is owned by company insiders.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI opened at $42.46 on Friday. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.31. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 5.43 and a beta of 0.94. The firm’s 50-day moving average is $44.87 and its 200 day moving average is $45.91.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.76 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.16%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) 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.