Jennison Associates LLC Decreases Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Jennison Associates LLC reduced its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,252,571 shares of the real estate investment trust's stock after selling 34,547 shares during the quarter. Jennison Associates LLC owned about 1.55% of Gaming and Leisure Properties worth $216,456,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter worth $768,000. PNC Financial Services Group Inc. raised its stake in shares of Gaming and Leisure Properties by 9.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,308 shares of the real estate investment trust's stock worth $496,000 after buying an additional 884 shares during the period. Natixis Advisors LLC raised its stake in Gaming and Leisure Properties by 183.4% during the 4th quarter. Natixis Advisors LLC now owns 85,260 shares of the real estate investment trust's stock worth $4,106,000 after acquiring an additional 55,171 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Gaming and Leisure Properties by 11.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 24,560 shares of the real estate investment trust's stock valued at $1,183,000 after purchasing an additional 2,498 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Gaming and Leisure Properties by 2.0% during the fourth quarter. Corient Private Wealth LLC now owns 16,921 shares of the real estate investment trust's stock valued at $815,000 after purchasing an additional 331 shares in the last quarter. Institutional investors own 91.14% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLPI. Royal Bank Of Canada dropped their target price on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Wells Fargo & Company lowered their target price on shares of 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. Macquarie reiterated an "outperform" rating and issued a $60.00 price target on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Scotiabank dropped their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Wedbush set a $55.00 target price on Gaming and Leisure Properties in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $53.68.

Insider Activity

In other news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the completion of the sale, the director owned 136,953 shares of the company's stock, valued at approximately $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 accessible through this link. Insiders own 4.26% of the company's stock.

Gaming and Leisure Properties Trading Up 0.5%

Shares of Gaming and Leisure Properties stock traded up $0.25 during trading on Friday, hitting $47.70. The stock had a trading volume of 1,346,244 shares, compared to its average volume of 1,335,756. Gaming and Leisure Properties, Inc. has a 12 month low of $44.48 and a 12 month high of $52.60. 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 firm's fifty day simple moving average is $46.92 and its 200-day simple moving average is $48.09. The stock has a market cap of $13.11 billion, a PE ratio of 16.98, a PEG ratio of 10.33 and a beta of 0.72.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Gaming and Leisure Properties had a return on equity of 17.02% and a net margin of 50.41%. The company had revenue of $395.24 million for the quarter, compared to the consensus estimate of $396.27 million. During the same quarter in the prior year, the company posted $0.92 EPS. Gaming and Leisure Properties's quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 6.54%. This is a boost from Gaming and Leisure Properties's previous quarterly dividend of $0.76. The ex-dividend date was Friday, June 13th. Gaming and Leisure Properties's dividend payout ratio is currently 111.03%.

About Gaming and Leisure Properties

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.