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

Jennison Associates LLC cut its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,204,531 shares of the real estate investment trust’s stock after selling 174,343 shares during the quarter. Jennison Associates LLC owned about 1.18% of Gaming and Leisure Properties worth $147,633,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Gaming and Leisure Properties by 13.7% during the third quarter. LPL Financial LLC now owns 105,146 shares of the real estate investment trust’s stock worth $4,789,000 after acquiring an additional 12,656 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Gaming and Leisure Properties by 14.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,132 shares of the real estate investment trust’s stock worth $370,000 after acquiring an additional 1,024 shares during the period. AQR Capital Management LLC increased its stake in shares of Gaming and Leisure Properties by 474.6% during the third quarter. AQR Capital Management LLC now owns 95,264 shares of the real estate investment trust’s stock worth $4,339,000 after acquiring an additional 78,685 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Gaming and Leisure Properties by 3.3% during the third quarter. Ameriprise Financial Inc. now owns 2,513,781 shares of the real estate investment trust’s stock worth $114,419,000 after acquiring an additional 79,673 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Gaming and Leisure Properties by 5.3% during the third quarter. Legal & General Group Plc now owns 2,278,693 shares of the real estate investment trust’s stock worth $103,794,000 after acquiring an additional 115,350 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI traded up $0.42 on Monday, hitting $45.03. The company’s stock had a trading volume of 1,390,879 shares, compared to its average volume of 1,318,742. Gaming and Leisure Properties, Inc. has a 12-month low of $41.80 and a 12-month high of $50.06. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The stock has a 50 day moving average of $44.37 and a 200-day moving average of $45.25.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). The firm had revenue of $376.00 million for the quarter, compared to analysts’ expectations of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. As a group, research analysts predict that Gaming and Leisure Properties, Inc. will post 3.65 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.75%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is 112.18%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Wells Fargo & Company decreased their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Royal Bank of Canada decreased their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.18.

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.