Teacher Retirement System of Texas Acquires New Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Teacher Retirement System of Texas bought a new stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 40,114 shares of the real estate investment trust's stock, valued at approximately $2,042,000.

Several other institutional investors also recently modified their holdings of GLPI. Dodge & Cox boosted its position in Gaming and Leisure Properties by 75.3% in 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 during the last quarter. Franklin Resources Inc. grew its stake in shares of 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 worth $617,938,000 after acquiring an additional 571,720 shares during the period. Geode Capital Management LLC grew its stake in shares of Gaming and Leisure Properties by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,245,884 shares of the real estate investment trust's stock worth $300,395,000 after acquiring an additional 165,024 shares during the period. Norges Bank purchased a new stake in Gaming and Leisure Properties in the 4th quarter worth about $176,123,000. Finally, Northern Trust Corp increased its holdings in Gaming and Leisure Properties by 48.2% in the 4th quarter. Northern Trust Corp now owns 2,873,006 shares of the real estate investment trust's stock worth $138,364,000 after acquiring an additional 933,842 shares during the last quarter. 91.14% of the stock is owned by institutional investors.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $46.58, for a total transaction of $186,320.00. Following the sale, the director owned 136,953 shares in the company, valued at $6,379,270.74. This represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Stock Down 0.9%

Shares of NASDAQ:GLPI traded down $0.42 during trading hours on Friday, hitting $47.80. The company's stock had a trading volume of 1,507,466 shares, compared to its average volume of 1,351,357. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60. The firm's fifty day moving average price is $46.80 and its 200 day moving average price is $48.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.12 and a quick ratio of 4.12. The company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 3.29 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.96. The firm had revenue of $395.24 million for the quarter, compared to the consensus estimate of $396.27 million. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, research analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 6.53%. The ex-dividend date was Friday, June 13th. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's payout ratio is currently 111.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GLPI shares. Macquarie reiterated an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, April 25th. Mizuho reduced their price target on Gaming and Leisure Properties from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Wedbush set a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, April 28th. Royal Bank Of Canada cut their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Scotiabank cut their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and a consensus price target of $54.17.

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.