California State Teachers Retirement System Cuts Stake in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• California State Teachers Retirement System cut its GLPI stake by 35.9% in the second quarter, selling 227,618 shares and retaining 406,953 shares worth about $18.1 million. Institutional investors still own 91.14% of the company.
• GLPI reported quarterly revenue of $430.52 million, up 9% year over year, while adjusted earnings of $0.80 per share matched analyst estimates. The stock recently traded near $40.66, close to its one-year low.
• The company declared a quarterly dividend of $0.82 per share, equivalent to $3.28 annually and an 8.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $49.27, while a director recently purchased 10,000 shares.

California State Teachers Retirement System reduced its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 35.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,953 shares of the real estate investment trust's stock after selling 227,618 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Gaming and Leisure Properties worth $18,121,617 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC raised its position in shares of Gaming and Leisure Properties by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 63,319 shares of the real estate investment trust's stock worth $2,830,000 after acquiring an additional 237 shares in the last quarter. Essential Partners LLC raised its stake in 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 acquiring an additional 240 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Gaming and Leisure Properties by 0.4% in the 4th quarter. Gabelli Funds LLC now owns 64,782 shares of the real estate investment trust's stock valued at $2,895,000 after acquiring an additional 250 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Gaming and Leisure Properties by 2.9% during the 4th quarter. Pure Financial Advisors LLC now owns 8,943 shares of the real estate investment trust's stock valued at $400,000 after acquiring an additional 255 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Gaming and Leisure Properties by 5.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,251 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 270 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded down $0.39 during midday trading on Tuesday, reaching $40.66. 1,429,829 shares of the company traded hands, compared to its average volume of 2,544,574. Gaming and Leisure Properties, Inc. has a 1-year low of $40.01 and a 1-year high of $49.95. The firm's 50 day simple moving average is $43.37 and its two-hundred day simple moving average is $45.57. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.74 and a quick ratio of 4.74. The firm has a market cap of $11.83 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.65.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $428.51 million. During the same period in the previous year, the business posted $0.96 EPS. Gaming and Leisure Properties's revenue was up 9.0% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. On average, equities research analysts expect that Gaming and Leisure Properties, Inc. will post 4.03 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Friday, September 11th. Gaming and Leisure Properties's dividend payout ratio is presently 96.19%.

Insider Activity

In other Gaming and Leisure Properties news, Director Earl C. Shanks acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was bought at an average price of $42.24 per share, with a total value of $422,400.00. Following the completion of the acquisition, the director owned 107,259 shares of the company's stock, valued at $4,530,620.16. This trade represents a 10.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GLPI. Scotiabank upped their price objective on Gaming and Leisure Properties from $49.00 to $50.00 and gave the company a "sector perform" rating in a research note on Thursday, August 13th. Morgan Stanley lifted their price target on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Stifel Nicolaus decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating for the company in a research report on Tuesday, June 30th. Finally, Cantor Fitzgerald cut their price target on Gaming and Leisure Properties from $52.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.