Jennison Associates LLC Purchases 211,657 Shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Jennison Associates LLC grew its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,287,118 shares of the real estate investment trust’s stock after purchasing an additional 211,657 shares during the quarter. Jennison Associates LLC owned approximately 1.56% of Gaming and Leisure Properties worth $206,468,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GLPI. Franklin Resources Inc. boosted its stake in Gaming and Leisure Properties by 7.8% in the third quarter. Franklin Resources Inc. now owns 12,259,224 shares of the real estate investment trust’s stock valued at $641,059,000 after acquiring an additional 889,698 shares during the last quarter. State Street Corp boosted its position in shares of Gaming and Leisure Properties by 1.4% in the 3rd quarter. State Street Corp now owns 12,135,195 shares of the real estate investment trust’s stock worth $624,356,000 after purchasing an additional 162,484 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Gaming and Leisure Properties by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,080,860 shares of the real estate investment trust’s stock worth $312,316,000 after purchasing an additional 161,689 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Gaming and Leisure Properties by 6.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock worth $284,726,000 after purchasing an additional 341,492 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Gaming and Leisure Properties by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,327,466 shares of the real estate investment trust’s stock valued at $171,198,000 after purchasing an additional 96,028 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Transactions at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 1,149 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the transaction, the senior vice president now owns 91,620 shares in the company, valued at approximately $4,379,436. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the sale, the chief operating officer now owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,222 shares of company stock worth $1,624,947 in the last ninety days. Insiders own 4.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 target price for the company. in a research report on Wednesday, January 15th. JMP Securities reissued a “market outperform” rating and set a $55.00 price objective on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. Scotiabank cut their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays assumed coverage on shares of Gaming and Leisure Properties in a research report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 price target on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI opened at $48.39 on Monday. The stock has a market capitalization of $13.28 billion, a PE ratio of 16.92, a P/E/G ratio of 1.97 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 1-year low of $41.80 and a 1-year high of $52.60. The firm has a fifty day simple moving average of $48.71 and a 200 day simple moving average of $49.79. The company has a current ratio of 11.35, a quick ratio of 11.35 and a debt-to-equity ratio of 1.62.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

Gaming and Leisure Properties Profile

Gaming & Leisure Properties, Inc engages in 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.