Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 334.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,064 shares of the real estate investment trust's stock after buying an additional 188,702 shares during the period. Millennium Management LLC owned 0.09% of Gaming and Leisure Properties worth $11,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dodge & Cox increased its position in shares of Gaming and Leisure Properties by 75.3% during the fourth quarter. Dodge & Cox now owns 13,498,634 shares of the real estate investment trust's stock worth $650,094,000 after purchasing an additional 5,797,299 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Gaming and Leisure Properties by 4.7% during the fourth quarter. Franklin Resources Inc. now owns 12,830,944 shares of the real estate investment trust's stock worth $617,938,000 after purchasing an additional 571,720 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Gaming and Leisure Properties by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust's stock worth $300,395,000 after purchasing an additional 165,024 shares in the last quarter. Jennison Associates LLC increased its position in shares of Gaming and Leisure Properties by 5.2% during the fourth quarter. Jennison Associates LLC now owns 4,287,118 shares of the real estate investment trust's stock worth $206,468,000 after purchasing an additional 211,657 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $176,123,000. Institutional investors and hedge funds own 91.14% of the company's stock.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $50.89, for a total transaction of $254,450.00. Following the completion of the sale, the director now directly owns 140,953 shares in the company, valued at $7,173,098.17. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Matthew Demchyk sold 6,419 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $50.45, for a total value of $323,838.55. Following the sale, the senior vice president now owns 43,201 shares of the company's stock, valued at approximately $2,179,490.45. The trade was a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,842 shares of company stock worth $905,361 in the last ninety days. Insiders own 4.26% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GLPI shares. Mizuho boosted their price target on Gaming and Leisure Properties from $51.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Scotiabank decreased their price target on Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Barclays boosted their price target on Gaming and Leisure Properties from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Macquarie reissued an "outperform" rating and set a $60.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Finally, Wedbush set a $55.00 price target on Gaming and Leisure Properties in a research note on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.63.

Gaming and Leisure Properties Trading Up 0.5%

Shares of Gaming and Leisure Properties stock traded up $0.21 during trading hours on Tuesday, reaching $46.44. 2,077,274 shares of the company's stock were exchanged, compared to its average volume of 1,309,015. Gaming and Leisure Properties, Inc. has a 52-week low of $42.86 and a 52-week high of $52.60. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. The company has a fifty day moving average of $48.13 and a 200-day moving average of $48.77. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share for the quarter, hitting analysts' consensus estimates of $0.96. The company had revenue of $395.24 million for the quarter, compared to analyst estimates of $396.27 million. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 EPS. Sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.72%. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, June 13th. Gaming and Leisure Properties's dividend payout ratio is presently 111.03%.

Gaming and Leisure Properties Company 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.