Public Employees Retirement System of Ohio Lowers Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Public Employees Retirement System of Ohio decreased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 7.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,207 shares of the real estate investment trust’s stock after selling 8,399 shares during the period. Public Employees Retirement System of Ohio’s holdings in Gaming and Leisure Properties were worth $5,259,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its position in shares of Gaming and Leisure Properties by 3.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 428,856 shares of the real estate investment trust’s stock valued at $22,065,000 after acquiring an additional 15,820 shares during the period. MML Investors Services LLC boosted its position in Gaming and Leisure Properties by 7.9% during the third quarter. MML Investors Services LLC now owns 71,885 shares of the real estate investment trust’s stock worth $3,698,000 after purchasing an additional 5,242 shares in the last quarter. Zacks Investment Management grew its holdings in Gaming and Leisure Properties by 10.9% in the third quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock valued at $26,867,000 after purchasing an additional 51,398 shares during the period. iA Global Asset Management Inc. increased its position in shares of Gaming and Leisure Properties by 18.2% in the third quarter. iA Global Asset Management Inc. now owns 4,709 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 726 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 19.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 40,686 shares of the real estate investment trust’s stock worth $2,093,000 after buying an additional 6,696 shares during the period. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the transaction, the director now directly owns 146,800 shares in the company, valued at approximately $7,397,252. This represents a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $50.09 on Friday. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The stock has a market cap of $13.74 billion, a PE ratio of 17.51, a P/E/G ratio of 2.10 and a beta of 0.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The stock has a 50 day moving average price of $50.49 and a 200 day moving average price of $49.03.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. Equities research analysts expect that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.04 annualized dividend and a yield of 6.07%. Gaming and Leisure Properties’s payout ratio is 106.29%.

Wall Street Analyst Weigh In

GLPI has been the subject of several recent analyst reports. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $49.00 to $54.00 in a research note on Friday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Raymond James lifted their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. Finally, Mizuho reduced their target price on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.96.

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.