Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 12.5% during the first quarter, Holdings Channel.com reports. The fund owned 12,173 shares of the real estate investment trust’s stock after selling 1,732 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Gaming and Leisure Properties were worth $620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Gaming and Leisure Properties in the first quarter valued at $26,000. Private Trust Co. NA acquired a new position in Gaming and Leisure Properties in the first quarter valued at $28,000. TD Private Client Wealth LLC boosted its holdings in Gaming and Leisure Properties by 64.2% in the first quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 213 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Gaming and Leisure Properties in the first quarter valued at $33,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in Gaming and Leisure Properties by 1,872.7% in the first quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 618 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.8%

Shares of NASDAQ GLPI opened at $46.25 on Thursday. Gaming and Leisure Properties, Inc. has a 1 year low of $44.48 and a 1 year high of $52.60. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 9.97 and a beta of 0.71. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. The stock’s 50-day simple moving average is $46.85 and its 200-day simple moving average is $47.94.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Gaming and Leisure Properties had a return on equity of 15.43% and a net margin of 46.32%. The business had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $397.27 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GLPI shares. Wells Fargo & Company reduced their target price on Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, June 2nd. Scotiabank reduced their price objective 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. Stifel Nicolaus cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating and set a $51.25 price objective on the stock. in a research note on Monday, July 21st. Royal Bank Of Canada reduced their price objective on Gaming and Leisure Properties from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Finally, Macquarie reduced their price objective on Gaming and Leisure Properties from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.16.

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total value of $139,620.00. Following the completion of the sale, the director directly owned 133,953 shares of the company’s stock, valued at $6,234,172.62. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.26% of the stock is currently owned by corporate insiders.

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.