Allianz Asset Management GmbH Decreases Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Key Points

• Allianz Asset Management GmbH has reduced its stake in Gaming and Leisure Properties by 44.1%, now owning approximately 290,809 shares valued at $14.80 million.
• The company recently announced a dividend increase to $0.78 per share, which represents an annualized yield of 6.68% and a payout ratio of 111.03%.
• Gaming and Leisure Properties reported earnings of $0.96 per share for the last quarter, falling short of analyst estimates, and saw revenue increase by 3.8% year-over-year despite missing consensus expectations.

Allianz Asset Management GmbH trimmed its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 44.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,809 shares of the real estate investment trust's stock after selling 229,586 shares during the period. Allianz Asset Management GmbH owned 0.11% of Gaming and Leisure Properties worth $14,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Toronto Dominion Bank lifted its holdings in shares of Gaming and Leisure Properties by 2.5% in the fourth quarter. Toronto Dominion Bank now owns 36,869 shares of the real estate investment trust's stock worth $1,776,000 after acquiring an additional 905 shares during the last quarter. Perigon Wealth Management LLC bought a new position in Gaming and Leisure Properties during the 1st quarter worth approximately $217,000. Envestnet Asset Management Inc. grew its holdings in Gaming and Leisure Properties by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 604,875 shares of the real estate investment trust's stock worth $30,788,000 after acquiring an additional 16,617 shares during the period. Farther Finance Advisors LLC lifted its stake in Gaming and Leisure Properties by 210.9% in the first quarter. Farther Finance Advisors LLC now owns 2,083 shares of the real estate investment trust's stock valued at $106,000 after buying an additional 1,413 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Gaming and Leisure Properties by 2.8% in the first quarter. Asset Management One Co. Ltd. now owns 591,741 shares of the real estate investment trust's stock worth $30,120,000 after purchasing an additional 16,043 shares during the period. 91.14% of the stock is currently owned by institutional investors.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock traded down $0.80 during midday trading on Monday, reaching $45.88. 614,598 shares of the stock were exchanged, compared to its average volume of 1,443,343. The company's fifty day moving average is $46.96 and its 200-day moving average is $48.08. The firm has a market cap of $12.61 billion, a PE ratio of 17.78, a PEG ratio of 10.17 and a beta of 0.72. The company has a debt-to-equity ratio of 1.41, a quick ratio of 7.39 and a current ratio of 7.39. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business had revenue of $394.90 million for the quarter, compared to the consensus estimate of $397.27 million. During the same period in the prior year, the business posted $0.94 EPS. Gaming and Leisure Properties's quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.78 per share. The ex-dividend date was Friday, June 13th. This represents a $3.12 annualized dividend and a dividend yield of 6.80%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. Gaming and Leisure Properties's dividend payout ratio (DPR) is 120.93%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GLPI shares. Barclays boosted their target price on Gaming and Leisure Properties from $54.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Stifel Nicolaus lowered Gaming and Leisure Properties from a "buy" rating to a "hold" rating and set a $51.25 target price on the stock. in a research report on Monday, July 21st. Mizuho reduced their price target on shares of 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 report on Monday, April 28th. Finally, Royal Bank Of Canada decreased their price objective on Gaming and Leisure Properties from $54.00 to $53.00 and set an "outperform" rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.16.

Insider Activity

In related news, Director E Scott Urdang sold 4,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director owned 136,953 shares of the company's stock, valued at $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.26% of the company's stock.

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.