State of New Jersey Common Pension Fund D Acquires 10,000 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

State of New Jersey Common Pension Fund D raised its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 468,560 shares of the real estate investment trust’s stock after purchasing an additional 10,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.18% of Gaming and Leisure Properties worth $23,123,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Operose Advisors LLC bought a new stake in Gaming and Leisure Properties in the third quarter worth $32,000. GAMMA Investing LLC bought a new stake in Gaming and Leisure Properties in the fourth quarter worth $51,000. Armstrong Advisory Group Inc. increased its position in Gaming and Leisure Properties by 166.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,203 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 751 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Gaming and Leisure Properties in the third quarter worth $79,000. Finally, CWM LLC increased its position in Gaming and Leisure Properties by 38.7% in the third quarter. CWM LLC now owns 1,954 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Mizuho lowered their target price on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. 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. Morgan Stanley lowered their price objective on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Finally, Royal Bank of Canada lowered their price objective 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.09.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang acquired 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Trading Down 0.0 %

Shares of GLPI traded down $0.02 during midday trading on Thursday, reaching $43.43. The company had a trading volume of 1,026,000 shares, compared to its average volume of 1,407,592. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.31. The stock has a market cap of $11.79 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 5.44 and a beta of 0.94. The firm has a 50 day simple moving average of $44.91 and a 200-day simple moving average of $45.93. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 7.00%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 109.75%.

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.