Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 25.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,075,461 shares of the real estate investment trust’s stock after buying an additional 821,634 shares during the quarter. Jennison Associates LLC owned 1.49% of Gaming and Leisure Properties worth $209,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GLPI. Covestor Ltd grew its holdings in shares of Gaming and Leisure Properties by 70.3% during the first quarter. Covestor Ltd now owns 2,084 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 860 shares during the last quarter. National Bank of Canada FI boosted its holdings in Gaming and Leisure Properties by 126.3% in the first quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock valued at $20,131,000 after purchasing an additional 253,763 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Gaming and Leisure Properties by 0.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 345,923 shares of the real estate investment trust’s stock worth $15,937,000 after purchasing an additional 1,461 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Gaming and Leisure Properties during the 1st quarter valued at about $2,396,000. Finally, MQS Management LLC acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter valued at about $424,000. 91.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Mizuho lowered their price objective on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Raymond James upped their target price on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada raised their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $52.54.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total value of $151,170.00. Following the completion of the sale, the director now owns 146,800 shares of the company’s stock, valued at approximately $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares in the company, valued at $10,459,298.85. The trade was a 12.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,758 shares of company stock valued at $2,717,922. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Trading Up 1.7 %

NASDAQ GLPI opened at $50.25 on Wednesday. The firm has a 50 day simple moving average of $50.64 and a 200-day simple moving average of $48.32. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.12 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. Equities research analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is currently 106.29%.

Gaming and Leisure Properties Profile

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.