California Public Employees Retirement System Sells 12,804 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System cut its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 570,256 shares of the real estate investment trust’s stock after selling 12,804 shares during the quarter. California Public Employees Retirement System owned approximately 0.22% of Gaming and Leisure Properties worth $29,705,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GLPI. Zions Bancorporation N.A. acquired a new stake in shares of Gaming and Leisure Properties during the first quarter worth $43,000. CWM LLC grew its stake in Gaming and Leisure Properties by 50.9% during the 3rd quarter. CWM LLC now owns 1,005 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 339 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in Gaming and Leisure Properties in the 3rd quarter valued at about $54,000. Wipfli Financial Advisors LLC acquired a new position in shares of Gaming and Leisure Properties in the 3rd quarter worth approximately $68,000. Finally, Accurate Wealth Management LLC acquired a new position in shares of Gaming and Leisure Properties in the 4th quarter worth approximately $71,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $50.79 on Thursday. Gaming and Leisure Properties, Inc. has a twelve month low of $42.32 and a twelve month high of $55.13. The firm has a market cap of $13.33 billion, a PE ratio of 17.45, a PEG ratio of 4.70 and a beta of 0.99. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s 50 day moving average price is $51.27 and its 200 day moving average price is $51.62.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.64%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, March 9th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 98.97%.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was purchased at an average cost of $53.82 per share, with a total value of $53,820.00. Following the acquisition, the director now directly owns 150,132 shares of the company’s stock, valued at approximately $8,080,104.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, March 21st. Raymond James raised their price objective on shares of Gaming and Leisure Properties from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, April 6th. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Finally, Truist Financial upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $60.00 in a report on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.80.

Gaming and Leisure Properties Company Profile

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Gaming & Leisure Properties, Inc engages in acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.