Jennison Associates LLC Sells 34,547 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Jennison Associates LLC lowered its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 0.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,252,571 shares of the real estate investment trust’s stock after selling 34,547 shares during the period. Jennison Associates LLC’s holdings in Gaming and Leisure Properties were worth $216,456,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Gaming and Leisure Properties during the first quarter worth approximately $26,000. Private Trust Co. NA acquired a new stake in Gaming and Leisure Properties during the first quarter worth approximately $28,000. TD Private Client Wealth LLC lifted its position in 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 worth $28,000 after acquiring an additional 213 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Gaming and Leisure Properties during the first quarter worth approximately $33,000. Finally, Cullen Frost Bankers Inc. lifted its position in Gaming and Leisure Properties by 1,872.7% during the first quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 618 shares during the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Gaming and Leisure Properties stock opened at $47.42 on Friday. The firm has a fifty day simple moving average of $46.90 and a two-hundred day simple moving average of $48.09. Gaming and Leisure Properties, Inc. has a twelve month low of $44.48 and a twelve month high of $52.60. The company has a market capitalization of $13.03 billion, a PE ratio of 16.92, a P/E/G ratio of 10.37 and a beta of 0.72. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 1.51.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. Gaming and Leisure Properties had a net margin of 50.41% and a return on equity of 17.02%. The firm had revenue of $395.24 million for the quarter, compared to analysts’ expectations of $396.27 million. During the same quarter in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 6.58%. The ex-dividend date was Friday, June 13th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.76. Gaming and Leisure Properties’s dividend payout ratio is currently 111.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Macquarie reiterated an “outperform” rating and issued a $60.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, April 25th. Scotiabank dropped their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th. Barclays lifted their price target on shares of Gaming and Leisure Properties from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, June 2nd. Finally, Mizuho dropped their price target on shares of Gaming and Leisure Properties from $53.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, June 16th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.68.

Insider Activity

In other news, Director E Scott Urdang sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director owned 136,953 shares in the company, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.26% of the company’s stock.

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.