7,730 Shares in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Acquired by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp acquired a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,730 shares of the real estate investment trust’s stock, valued at approximately $381,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Gaming and Leisure Properties by 78.5% in the third quarter. Bank of New York Mellon Corp now owns 2,906,793 shares of the real estate investment trust’s stock worth $132,404,000 after acquiring an additional 1,278,566 shares during the period. Jennison Associates LLC grew its position in Gaming and Leisure Properties by 54.8% in the 4th 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. Principal Financial Group Inc. raised its stake in Gaming and Leisure Properties by 15.7% during the 3rd quarter. Principal Financial Group Inc. now owns 8,771,108 shares of the real estate investment trust’s stock valued at $399,523,000 after buying an additional 1,188,397 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Gaming and Leisure Properties by 54.6% during the 3rd quarter. Invesco Ltd. now owns 3,301,293 shares of the real estate investment trust’s stock valued at $150,374,000 after buying an additional 1,165,459 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Gaming and Leisure Properties by 30.2% in the 3rd quarter. Northern Trust Corp now owns 2,397,529 shares of the real estate investment trust’s stock worth $109,207,000 after buying an additional 555,474 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang acquired 2,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $45.00 per share, with a total value of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $42.46 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.31. The firm has a fifty day moving average price of $44.87 and a 200-day moving average price of $45.91. The stock has a market cap of $11.53 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 5.43 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLPI. Morgan Stanley reduced their price objective 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. Mizuho lowered their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, Royal Bank of Canada dropped 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 note on Thursday, February 29th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.09.

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.