California State Teachers Retirement System Buys 17,487,046 Shares of Gaming and Leisure Properties, Inc. $GLPI

Key Points

• California State Teachers Retirement System increased its Gaming and Leisure Properties stake by 2,755.7%, purchasing 17.49 million additional shares and bringing its ownership to approximately 6.23%, valued at $807 million.
• GLPI reported quarterly revenue of $430.5 million, up 9% year over year, while earnings of $0.80 per share matched analyst expectations. The REIT declared a quarterly dividend of $0.82 per share, representing an annualized yield of approximately 8.2%.
• Analysts maintain a “Moderate Buy” consensus, with six Buy and six Hold ratings and an average price target of $49.27. The stock recently traded near $40.24, close to its one-year low.

California State Teachers Retirement System lifted its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 2,755.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,121,617 shares of the real estate investment trust's stock after buying an additional 17,487,046 shares during the quarter. California State Teachers Retirement System owned about 6.23% of Gaming and Leisure Properties worth $806,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. SHP Wealth Management bought a new position in Gaming and Leisure Properties in the fourth quarter worth $30,000. International Assets Investment Management LLC bought a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at $31,000. Markowski Investments bought a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at $35,000. Essential Partners LLC boosted its holdings in shares of Gaming and Leisure Properties by 38.2% during the 1st quarter. Essential Partners LLC now owns 868 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 240 shares in the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of Gaming and Leisure Properties in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Insider Activity at Gaming and Leisure Properties

In other news, Director Earl C. Shanks acquired 10,000 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were acquired at an average price of $42.24 per share, for a total transaction of $422,400.00. Following the completion of the transaction, the director directly owned 107,259 shares of the company's stock, valued at approximately $4,530,620.16. The trade was a 10.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.11% of the company's stock.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock opened at $40.24 on Monday. Gaming and Leisure Properties, Inc. has a one year low of $40.01 and a one year high of $49.95. The stock's fifty day moving average is $43.42 and its 200 day moving average is $45.62. The stock has a market cap of $11.71 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.68 and a beta of 0.65. The company has a debt-to-equity ratio of 1.51, a quick ratio of 4.74 and a current ratio of 4.74.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The firm had revenue of $430.52 million during the quarter, compared to analysts' expectations of $428.51 million. During the same period in the prior year, the company posted $0.96 earnings per share. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. Sell-side analysts anticipate that Gaming and Leisure Properties, Inc. will post 4.03 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Friday, September 11th. Gaming and Leisure Properties's dividend payout ratio is currently 96.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLPI. Wells Fargo & Company cut their target price on Gaming and Leisure Properties from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 1st. Raymond James Financial reaffirmed an "outperform" rating and issued a $47.00 price target on shares of Gaming and Leisure Properties in a research report on Thursday, August 13th. Barclays dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada reduced their price objective on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of "Moderate Buy" and an average target price of $49.27.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns, acquires and leases gaming-related properties. Its portfolio primarily consists of casinos and other properties used for gaming, entertainment and hospitality activities.

GLPI generally leases its properties to gaming operators under long-term, triple-net lease agreements. Under these arrangements, tenants typically operate the properties and are responsible for expenses such as maintenance, insurance and property taxes, while GLPI focuses on owning and managing the underlying real estate.

The company was established in 2013 through the spin-off of gaming properties from Penn National Gaming, now known as PENN Entertainment.

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