Gaming and Leisure Properties, Inc. $GLPI Stake Boosted by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,599,033 shares of the real estate investment trust’s stock after purchasing an additional 346,462 shares during the quarter. Jennison Associates LLC owned approximately 1.63% of Gaming and Leisure Properties worth $214,683,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA bought a new position in shares of Gaming and Leisure Properties during the first quarter valued at approximately $28,000. TD Private Client Wealth LLC grew its holdings in shares of Gaming and Leisure Properties by 64.2% during 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 purchasing an additional 213 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Gaming and Leisure Properties during the second quarter valued at approximately $30,000. REAP Financial Group LLC grew its holdings in shares of Gaming and Leisure Properties by 66.0% during the second quarter. REAP Financial Group LLC now owns 664 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Gaming and Leisure Properties during the first quarter valued at approximately $33,000. 91.14% of the stock is owned by institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $44.44 on Wednesday. Gaming and Leisure Properties, Inc. has a 12-month low of $44.21 and a 12-month high of $52.27. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 9.79 and a beta of 0.74. The business has a 50 day simple moving average of $46.58 and a 200 day simple moving average of $46.87. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Friday, September 12th. Gaming and Leisure Properties’s dividend payout ratio is 120.93%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GLPI shares. Cantor Fitzgerald started coverage on Gaming and Leisure Properties in a report on Wednesday, October 1st. They set a “neutral” rating and a $51.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Wednesday, October 8th. Stifel Nicolaus lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating and set a $51.25 target price for the company. in a report on Monday, July 21st. Scotiabank upped their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Finally, Barclays raised Gaming and Leisure Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $51.00 to $54.00 in a report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.94.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $46.54, for a total value of $139,620.00. Following the completion of the transaction, the director directly owned 133,953 shares of the company’s stock, valued at $6,234,172.62. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.26% of the stock is owned by company insiders.

Gaming and Leisure Properties Company 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.