Jennison Associates LLC Reduces Stock Holdings in Gaming and Leisure Properties, Inc. $GLPI

Jennison Associates LLC decreased its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 8.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,225,137 shares of the real estate investment trust’s stock after selling 373,896 shares during the period. Jennison Associates LLC owned approximately 1.49% of Gaming and Leisure Properties worth $196,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLPI. Envestnet Portfolio Solutions Inc. raised its stake in shares of Gaming and Leisure Properties by 6.0% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 13,423 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 758 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Gaming and Leisure Properties by 152.1% in the third quarter. Teacher Retirement System of Texas now owns 105,208 shares of the real estate investment trust’s stock valued at $4,904,000 after buying an additional 63,473 shares during the last quarter. Naples Global Advisors LLC acquired a new position in Gaming and Leisure Properties in the 3rd quarter worth approximately $338,000. Covestor Ltd lifted its stake in Gaming and Leisure Properties by 37.7% during the 3rd quarter. Covestor Ltd now owns 1,731 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 474 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new stake in Gaming and Leisure Properties during the 3rd quarter valued at approximately $1,162,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 24th. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $52.00 to $53.00 in a report on Friday, December 12th. Barclays lowered their target price on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Stifel Nicolaus set a $47.75 price target on Gaming and Leisure Properties in a research report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Thursday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.89.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, SVP Steven Ladany sold 13,409 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $45.04, for a total transaction of $603,941.36. Following the completion of the sale, the senior vice president directly owned 57,886 shares of the company’s stock, valued at approximately $2,607,185.44. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director E Scott Urdang sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $45.49, for a total transaction of $181,960.00. Following the completion of the sale, the director owned 129,953 shares in the company, valued at approximately $5,911,561.97. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 40,864 shares of company stock valued at $1,832,866. 4.26% of the stock is owned by insiders.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock opened at $45.41 on Friday. The company has a fifty day simple moving average of $44.18 and a 200-day simple moving average of $45.60. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 2.48 and a beta of 0.67. The company has a quick ratio of 13.23, a current ratio of 13.23 and a debt-to-equity ratio of 1.47. Gaming and Leisure Properties, Inc. has a 52-week low of $41.17 and a 52-week high of $52.24.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Gaming and Leisure Properties had a net margin of 49.54% and a return on equity of 16.34%. The company had revenue of $397.61 million for the quarter, compared to the consensus estimate of $399.66 million. During the same period in the previous year, the firm earned $0.95 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 3.2% compared to the same quarter last year. Gaming and Leisure Properties has set its FY 2025 guidance at 3.860-3.880 EPS. On average, equities analysts anticipate that Gaming and Leisure Properties, Inc. will post 3.81 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.9%. The ex-dividend date was Friday, December 5th. Gaming and Leisure Properties’s dividend payout ratio is presently 113.04%.

Gaming and Leisure Properties Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.