Jennison Associates LLC Sells 50,812 Shares of Gaming and Leisure Properties Inc (NASDAQ:GLPI)

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Jennison Associates LLC lessened its stake in Gaming and Leisure Properties Inc (NASDAQ:GLPI) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,943,145 shares of the real estate investment trust’s stock after selling 50,812 shares during the period. Jennison Associates LLC owned about 0.91% of Gaming and Leisure Properties worth $75,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLPI. Signaturefd LLC lifted its stake in shares of Gaming and Leisure Properties by 100.3% in the first quarter. Signaturefd LLC now owns 721 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 361 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Gaming and Leisure Properties by 39.9% in the first quarter. Quadrant Capital Group LLC now owns 988 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 282 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Gaming and Leisure Properties by 237.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,616 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,840 shares during the period. Altshuler Shaham Ltd lifted its stake in shares of Gaming and Leisure Properties by 122.2% in the second quarter. Altshuler Shaham Ltd now owns 2,682 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,475 shares during the period. Finally, Bessemer Group Inc. bought a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $119,000. Institutional investors and hedge funds own 89.35% of the company’s stock.

A number of brokerages have commented on GLPI. Deutsche Bank restated a “buy” rating and set a $47.00 price target on shares of Gaming and Leisure Properties in a research note on Sunday, May 12th. Zacks Investment Research cut shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Thursday. Scotiabank began coverage on shares of Gaming and Leisure Properties in a research note on Monday, July 29th. They set an “outperform” rating for the company. Morgan Stanley set a $47.00 price target on shares of Gaming and Leisure Properties and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, BidaskClub upgraded shares of Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Gaming and Leisure Properties currently has an average rating of “Hold” and a consensus target price of $43.22.

GLPI traded down $0.32 during midday trading on Friday, reaching $38.10. 866,450 shares of the company’s stock were exchanged, compared to its average volume of 1,397,652. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.27 and a beta of 0.53. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 2.78. Gaming and Leisure Properties Inc has a one year low of $31.19 and a one year high of $40.82. The business has a 50-day simple moving average of $38.14 and a two-hundred day simple moving average of $38.58.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The firm had revenue of $289.01 million for the quarter, compared to analyst estimates of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.98% and a net margin of 29.69%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. As a group, research analysts anticipate that Gaming and Leisure Properties Inc will post 3.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Thursday, September 5th. Gaming and Leisure Properties’s payout ratio is 85.53%.

In other news, SVP Matthew Demchyk acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $37.57 per share, with a total value of $187,850.00. Following the completion of the acquisition, the senior vice president now owns 42,500 shares in the company, valued at approximately $1,596,725. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.05% of the company’s stock.

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.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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