Alaska Permanent Fund Corp Takes $381,000 Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Alaska Permanent Fund Corp bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the fourth quarter, Holdings Channel.com reports. The firm bought 7,730 shares of the real estate investment trust’s stock, valued at approximately $381,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLPI. Yousif Capital Management LLC raised its holdings in Gaming and Leisure Properties by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 135,050 shares of the real estate investment trust’s stock valued at $6,665,000 after acquiring an additional 2,263 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at approximately $51,000. California Public Employees Retirement System lifted its position in Gaming and Leisure Properties by 41.4% during the fourth quarter. California Public Employees Retirement System now owns 924,388 shares of the real estate investment trust’s stock worth $45,619,000 after buying an additional 270,667 shares in the last quarter. Jennison Associates LLC boosted its stake in Gaming and Leisure Properties by 54.8% during 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 buying an additional 1,195,765 shares during the last quarter. Finally, Duality Advisers LP purchased a new stake in Gaming and Leisure Properties in the 4th quarter valued at $597,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, with a total value of $112,500.00. Following the purchase, the director now owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GLPI shares. Morgan Stanley reduced their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. 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 for the company in a research note on Thursday, February 29th. Mizuho cut their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.09.

Gaming and Leisure Properties Stock Down 2.2 %

Gaming and Leisure Properties stock opened at $42.46 on Friday. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.31. The firm has a 50 day moving average price of $44.87 and a 200 day moving average price of $45.91.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.76 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

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.