New York State Teachers Retirement System Takes Position in Gaming and Leisure Properties Inc (GLPI)

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New York State Teachers Retirement System purchased a new stake in Gaming and Leisure Properties Inc (NASDAQ:GLPI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,900 shares of the real estate investment trust’s stock, valued at approximately $641,000.

Other large investors also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in shares of Gaming and Leisure Properties by 44.3% in the first quarter. Allianz Asset Management GmbH now owns 401,603 shares of the real estate investment trust’s stock valued at $13,442,000 after purchasing an additional 123,339 shares during the last quarter. Presima Inc. acquired a new stake in shares of Gaming and Leisure Properties in the second quarter valued at approximately $3,229,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $265,000. Investec Asset Management PTY Ltd increased its holdings in shares of Gaming and Leisure Properties by 1,973.7% in the first quarter. Investec Asset Management PTY Ltd now owns 30,940 shares of the real estate investment trust’s stock valued at $1,036,000 after purchasing an additional 29,448 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Gaming and Leisure Properties by 5.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 121,500 shares of the real estate investment trust’s stock worth $4,067,000 after acquiring an additional 6,010 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

In other news, Director E Scott Urdang purchased 3,000 shares of the stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of $35.32 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director now directly owns 62,971 shares in the company, valued at approximately $2,224,135.72. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.88% of the company’s stock.

GLPI has been the subject of several recent analyst reports. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, May 2nd. BidaskClub cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Barclays cut their target price on Gaming and Leisure Properties from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Morgan Stanley raised Gaming and Leisure Properties from an “equal” rating to a “weight” rating and set a $37.00 target price for the company in a research note on Tuesday, July 24th. Finally, ValuEngine cut Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Gaming and Leisure Properties has a consensus rating of “Hold” and an average price target of $39.00.

GLPI stock opened at $35.44 on Monday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.89. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.06 and a beta of 0.79. Gaming and Leisure Properties Inc has a 52-week low of $32.51 and a 52-week high of $39.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.34). Gaming and Leisure Properties had a return on equity of 15.56% and a net margin of 38.54%. The business had revenue of $254.22 million for the quarter, compared to analyst estimates of $254.40 million. During the same period last year, the business earned $0.45 EPS. Gaming and Leisure Properties’s revenue was up 4.4% compared to the same quarter last year. equities research analysts anticipate that Gaming and Leisure Properties Inc will post 3.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $2.52 annualized dividend and a dividend yield of 7.11%. Gaming and Leisure Properties’s dividend payout ratio is currently 80.00%.

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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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