Jennison Associates LLC trimmed its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,252,571 shares of the real estate investment trust's stock after selling 34,547 shares during the period. Jennison Associates LLC owned approximately 1.55% of Gaming and Leisure Properties worth $216,456,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. increased its stake in Gaming and Leisure Properties by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 5,197 shares of the real estate investment trust's stock valued at $265,000 after buying an additional 211 shares during the period. TD Private Client Wealth LLC lifted its stake 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. Pure Financial Advisors LLC lifted its stake in Gaming and Leisure Properties by 2.6% in the first quarter. Pure Financial Advisors LLC now owns 8,676 shares of the real estate investment trust's stock valued at $442,000 after acquiring an additional 221 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Gaming and Leisure Properties by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 6,063 shares of the real estate investment trust's stock worth $292,000 after buying an additional 222 shares during the last quarter. Finally, Woodward Diversified Capital LLC raised its stake in Gaming and Leisure Properties by 5.8% during the 1st quarter. Woodward Diversified Capital LLC now owns 4,402 shares of the real estate investment trust's stock valued at $224,000 after purchasing an additional 243 shares during the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
GLPI has been the topic of several analyst reports. Royal Bank Of Canada lowered their price target on shares of Gaming and Leisure Properties from $56.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Scotiabank lowered their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Macquarie reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 25th. Barclays increased their price objective on shares of Gaming and Leisure Properties from $54.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Wells Fargo & Company decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.30.
Check Out Our Latest Stock Analysis on GLPI
Gaming and Leisure Properties Stock Down 2.2%
Shares of GLPI traded down $1.07 during mid-day trading on Monday, hitting $46.63. 2,444,222 shares of the company's stock were exchanged, compared to its average volume of 1,333,775. The company has a market cap of $12.82 billion, a PE ratio of 16.59, a P/E/G ratio of 10.39 and a beta of 0.72. Gaming and Leisure Properties, Inc. has a 52 week low of $44.48 and a 52 week high of $52.60. The company has a 50-day simple moving average of $46.92 and a 200 day simple moving average of $48.09. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.12 and a quick ratio of 4.12.
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, 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 business had revenue of $395.24 million during the quarter, compared to the consensus estimate of $396.27 million. During the same quarter last year, the firm posted $0.92 EPS. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current fiscal year.
Gaming and Leisure Properties Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.69%. 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 presently 111.03%.
Insider Buying and Selling
In related news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 136,953 shares in the company, valued at $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.26% of the company's stock.
Gaming and Leisure Properties Company Profile
(
Free Report)
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.
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