Corvex Management Lp adds Gaming and Leisure Properties Inc (GLPI) to its portfolio

Gaming and Leisure Properties Inc (GLPI) : Corvex Management Lp added new position in Gaming and Leisure Properties Inc during the most recent quarter end. The investment management firm now holds 50,000 shares of Gaming and Leisure Properties Inc which is valued at $1,770,500 , the company said in a statement filed on Aug 15, 2016 with the SEC.Gaming and Leisure Properties Inc makes up approximately 0.03% of Corvex Management Lp’s portfolio.

Other Hedge Funds, Including , Pine River Capital Management sold out all of its stake in GLPI during the most recent quarter. The investment firm sold 77,000 shares of GLPI which is valued $2,726,570. Bokf Na added GLPI to its portfolio by purchasing 15,601 company shares during the most recent quarter which is valued at $552,431. Gaming and Leisure Properties Inc makes up approx 0.02% of Bokf Na’s portfolio.Advisors Asset Management reduced its stake in GLPI by selling 1,020 shares or 2.07% in the most recent quarter. The Hedge Fund company now holds 48,327 shares of GLPI which is valued at $1,716,575. Gaming and Leisure Properties Inc makes up approx 0.03% of Advisors Asset Management’s portfolio.California State Teachers Retirement System boosted its stake in GLPI in the latest quarter, The investment management firm added 94,817 additional shares and now holds a total of 396,047 shares of Gaming and Leisure Properties Inc which is valued at $14,039,866. Gaming and Leisure Properties Inc makes up approx 0.03% of California State Teachers Retirement System’s portfolio. Louisiana State Employees Retirement System sold out all of its stake in GLPI during the most recent quarter. The investment firm sold 22,950 shares of GLPI which is valued $811,053.

Gaming and Leisure Properties Inc closed down -0.04 points or -0.12% at $34.17 with 8,96,233 shares getting traded on Thursday. Post opening the session at $34.18, the shares hit an intraday low of $33.99 and an intraday high of $34.7799 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Gaming and Leisure Properties Inc reported $0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.50. The company had revenue of $207.40 million for the quarter, compared to analysts expectations of $211.37 million. The company’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Gaming and Leisure Properties Inc. Gaming and Leisure Properties Inc was Upgraded by Morgan Stanley to ” Overweight” on Sep 7, 2016.

Gaming and Leisure Properties Inc. (GLPI) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the business of acquiring financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Triple net leases are leases in which the lessee pays rent to the lessor as well as all taxes insurance and maintenance expenses that arise from the use of the property. The Company operates in two segments: GLP Capital L.P. (a wholly owned subsidiary of GLPI through which GLPI owns all of its real estate assets) (GLP Capital) and the TRS Properties. The GLP Capital segment consists of the leased real property and represents the Company’s business. The TRS Properties segment consists of Hollywood Casino Perryville and Hollywood Casino Baton Rouge.

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