Jennison Associates LLC Has $166.75 Million Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Jennison Associates LLC grew its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 54.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,378,874 shares of the real estate investment trust's stock after buying an additional 1,195,765 shares during the period. Jennison Associates LLC owned 1.27% of Gaming and Leisure Properties worth $166,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its stake in shares of Gaming and Leisure Properties by 38.7% during the 3rd quarter. CWM LLC now owns 1,954 shares of the real estate investment trust's stock worth $89,000 after acquiring an additional 545 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of Gaming and Leisure Properties by 79.3% during the 3rd quarter. AE Wealth Management LLC now owns 23,613 shares of the real estate investment trust's stock worth $1,076,000 after buying an additional 10,445 shares during the last quarter. DnB Asset Management AS increased its holdings in shares of Gaming and Leisure Properties by 21.0% during the 3rd quarter. DnB Asset Management AS now owns 56,780 shares of the real estate investment trust's stock worth $2,586,000 after buying an additional 9,867 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Gaming and Leisure Properties by 12.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 300,484 shares of the real estate investment trust's stock valued at $13,685,000 after purchasing an additional 32,841 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in Gaming and Leisure Properties by 1,227.4% in the 3rd quarter. Impact Partnership Wealth LLC now owns 7,513 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 6,947 shares in the last quarter. 91.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on GLPI shares. Morgan Stanley decreased their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 21st. Royal Bank of Canada decreased their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, February 29th. Mizuho decreased their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, March 7th. JMP Securities restated a "market outperform" rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Finally, StockNews.com upgraded Gaming and Leisure Properties from a "hold" rating to a "buy" rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.09.

Insiders Place Their Bets

In related news, Director E Scott Urdang acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.40% of the company's stock.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded up $0.18 during mid-day trading on Monday, hitting $42.98. The company's stock had a trading volume of 1,222,404 shares, compared to its average volume of 1,421,217. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 5.34 and a beta of 0.94. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.31. The stock has a fifty day moving average of $44.97 and a 200-day moving average of $45.96.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.76 dividend. This is a positive change from Gaming and Leisure Properties's previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a yield of 7.07%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties's dividend payout ratio is currently 109.75%.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.