Geode Capital Management LLC Purchases 165,024 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Geode Capital Management LLC increased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,245,884 shares of the real estate investment trust’s stock after purchasing an additional 165,024 shares during the quarter. Geode Capital Management LLC owned approximately 2.28% of Gaming and Leisure Properties worth $300,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. increased its position in Gaming and Leisure Properties by 4.7% during the 4th quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust’s stock valued at $617,938,000 after purchasing an additional 571,720 shares during the period. Family Legacy Inc. increased its position in shares of Gaming and Leisure Properties by 13.1% during the fourth quarter. Family Legacy Inc. now owns 17,638 shares of the real estate investment trust’s stock valued at $822,000 after buying an additional 2,049 shares during the period. Alliancebernstein L.P. raised its stake in Gaming and Leisure Properties by 0.9% in the fourth quarter. Alliancebernstein L.P. now owns 786,822 shares of the real estate investment trust’s stock worth $37,893,000 after buying an additional 7,300 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Gaming and Leisure Properties by 33.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 16,993 shares of the real estate investment trust’s stock worth $818,000 after buying an additional 4,218 shares during the period. Finally, California Public Employees Retirement System boosted its position in Gaming and Leisure Properties by 5.0% during the 4th quarter. California Public Employees Retirement System now owns 866,056 shares of the real estate investment trust’s stock valued at $41,709,000 after acquiring an additional 41,586 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GLPI shares. Morgan Stanley lowered Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada dropped their price target on Gaming and Leisure Properties from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Scotiabank reduced their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. JMP Securities reiterated a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Finally, Barclays reduced their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.11.

Gaming and Leisure Properties Trading Down 3.1 %

NASDAQ:GLPI opened at $47.89 on Friday. The firm has a 50-day simple moving average of $49.66 and a 200-day simple moving average of $49.65. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The firm has a market cap of $13.16 billion, a P/E ratio of 16.69, a P/E/G ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The company had revenue of $389.62 million for the quarter, compared to the consensus estimate of $391.54 million. Equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.76 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.04 dividend on an annualized basis and a yield of 6.35%. Gaming and Leisure Properties’s dividend payout ratio is currently 105.92%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 10,474 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $48.62, for a total value of $509,245.88. Following the sale, the senior vice president now owns 71,757 shares in the company, valued at approximately $3,488,825.34. This represents a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director E Scott Urdang sold 5,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the sale, the director now directly owns 140,953 shares in the company, valued at approximately $7,173,098.17. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,933 shares of company stock worth $2,533,487. 4.37% of the stock is owned by company insiders.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in the provision of 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.