Jennison Associates LLC Increases Stock Position in Gaming and Leisure Properties, Inc. $GLPI

Key Points

• Jennison Associates LLC boosted its stake in Gaming and Leisure Properties by 21.7% in the first quarter, adding 781,198 shares to reach 4.38 million shares worth about $194.3 million.
• Analyst sentiment remains mixed but constructive, with a consensus “Moderate Buy” rating and an average price target of $51.55 despite several recent price-target cuts.
• GLPI reported solid quarterly results and raised its dividend to $0.82 per share, implying a 7.3% annualized yield, while shares recently traded around $45.08.

Jennison Associates LLC increased its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 21.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,378,409 shares of the real estate investment trust's stock after acquiring an additional 781,198 shares during the quarter. Jennison Associates LLC owned approximately 1.54% of Gaming and Leisure Properties worth $194,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLPI. V Square Quantitative Management LLC acquired a new stake in Gaming and Leisure Properties during the 4th quarter worth $29,000. SHP Wealth Management acquired a new position in Gaming and Leisure Properties in the fourth quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $31,000. True Wealth Design LLC raised its holdings in shares of Gaming and Leisure Properties by 238.3% in the fourth quarter. True Wealth Design LLC now owns 866 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 610 shares during the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of Gaming and Leisure Properties in the first quarter valued at about $40,000. Hedge funds and other institutional investors own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

GLPI has been the topic of a number of research reports. Weiss Ratings lowered Gaming and Leisure Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. reduced their price objective on Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, June 30th. Wells Fargo & Company reduced their price objective on Gaming and Leisure Properties from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday. Scotiabank decreased their price objective on Gaming and Leisure Properties from $52.00 to $49.00 and set a "sector perform" rating for the company in a research report on Thursday, June 18th. Finally, Morgan Stanley lifted their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of "Moderate Buy" and an average price target of $51.55.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $48.32, for a total value of $144,960.00. Following the sale, the director owned 127,429 shares of the company's stock, valued at approximately $6,157,369.28. The trade was a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.11% of the stock is currently owned by insiders.

Gaming and Leisure Properties Stock Down 0.2%

Shares of Gaming and Leisure Properties stock opened at $45.08 on Friday. The company has a market cap of $12.78 billion, a P/E ratio of 14.31, a PEG ratio of 1.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.62, a quick ratio of 6.29 and a current ratio of 6.29. Gaming and Leisure Properties, Inc. has a one year low of $41.17 and a one year high of $49.95. The firm has a fifty day moving average of $45.92 and a two-hundred day moving average of $46.24.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $419.99 million during the quarter, compared to analysts' expectations of $417.15 million. Gaming and Leisure Properties had a net margin of 55.56% and a return on equity of 18.06%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. Gaming and Leisure Properties has set its FY 2026 guidance at 4.080-4.120 EPS. On average, analysts forecast that Gaming and Leisure Properties, Inc. will post 4.01 earnings per share for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.82 dividend. The ex-dividend date was Friday, June 12th. This is an increase from Gaming and Leisure Properties's previous quarterly dividend of $0.78. This represents a $3.28 dividend on an annualized basis and a yield of 7.3%. Gaming and Leisure Properties's payout ratio is 104.13%.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company's core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.

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