State of Michigan Retirement System Boosts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

State of Michigan Retirement System boosted its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.3% during the 1st quarter, according to the company in its most recent disclosure 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 period. 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 have also recently made changes to their positions in GLPI. Wellington Management Group LLP lifted its position in shares of Gaming and Leisure Properties by 40.8% during the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after acquiring an additional 3,684,553 shares in the last quarter. Norges Bank bought a new position in shares of Gaming and Leisure Properties in the fourth quarter worth $141,537,000. Jennison Associates LLC increased its holdings in shares of Gaming and Leisure Properties by 54.8% in the fourth quarter. Jennison Associates LLC now owns 3,378,874 shares of the real estate investment trust’s stock worth $166,747,000 after purchasing an additional 1,195,765 shares during the period. Vanguard Group Inc. increased its holdings in shares of Gaming and Leisure Properties by 1.5% in the third quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock worth $1,711,432,000 after purchasing an additional 555,332 shares during the period. Finally, Putnam Investments LLC increased its holdings in shares of Gaming and Leisure Properties by 3.1% in the fourth quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock worth $469,394,000 after purchasing an additional 282,828 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.5 %

Shares of NASDAQ:GLPI opened at $44.10 on Thursday. The stock’s 50-day moving average price is $44.28 and its 200-day moving average price is $45.35. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $50.06. The stock has a market capitalization of $11.97 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 5.32 and a beta of 0.98. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data 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 net margin of 50.05% and a return on equity of 16.79%. The company had revenue of $376.00 million for the quarter, compared to the consensus estimate of $368.44 million. During the same period last year, the business posted $0.92 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.65 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.89%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, June 17th. Wells Fargo & Company decreased their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. 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. Finally, Stifel Nicolaus increased 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

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.