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

Jennison Associates LLC raised its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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’s holdings in Gaming and Leisure Properties were worth $214,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Gaming and Leisure Properties by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 11,556,825 shares of the real estate investment trust’s stock valued at $588,242,000 after purchasing an additional 349,065 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Gaming and Leisure Properties by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,766,108 shares of the real estate investment trust’s stock valued at $242,597,000 after purchasing an additional 77,562 shares in the last quarter. Invesco Ltd. boosted its stake in Gaming and Leisure Properties by 127.7% during the 1st quarter. Invesco Ltd. now owns 4,512,234 shares of the real estate investment trust’s stock valued at $229,673,000 after purchasing an additional 2,530,463 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Gaming and Leisure Properties by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,293,551 shares of the real estate investment trust’s stock valued at $167,642,000 after purchasing an additional 10,092 shares in the last quarter. Finally, Nuveen LLC bought a new position in Gaming and Leisure Properties during the 1st quarter valued at $151,723,000. 91.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating and set a $51.25 price objective for the company. in a research report on Monday, July 21st. Royal Bank Of Canada cut their price objective on Gaming and Leisure Properties from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, July 28th. Mizuho increased their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gaming and Leisure Properties in a research report on Wednesday, October 8th. Finally, Barclays upgraded Gaming and Leisure Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $51.00 to $54.00 in a research report on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.94.

Insider Activity

In other news, Director E Scott Urdang sold 3,000 shares of the stock in a transaction 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 sale, the director owned 133,953 shares in the company, valued at $6,234,172.62. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.26% of the stock is owned by insiders.

Gaming and Leisure Properties Price Performance

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

Gaming and Leisure Properties Dividend Announcement

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

Gaming and Leisure Properties 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.