Allianz Asset Management GmbH Acquires 155,919 Shares of Gaming and Leisure Properties, Inc. $GLPI

Allianz Asset Management GmbH grew its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 154.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 257,047 shares of the real estate investment trust’s stock after acquiring an additional 155,919 shares during the quarter. Allianz Asset Management GmbH owned about 0.09% of Gaming and Leisure Properties worth $11,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GLPI. Spire Wealth Management raised its stake in Gaming and Leisure Properties by 62.3% in the third quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 238 shares in the last quarter. Freedom Investment Management Inc. raised its position in shares of Gaming and Leisure Properties by 4.6% during the 2nd quarter. Freedom Investment Management Inc. now owns 5,977 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 261 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Gaming and Leisure Properties by 18.4% during the 2nd quarter. Whittier Trust Co. now owns 1,708 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 265 shares during the last quarter. Securian Asset Management Inc. grew its position in Gaming and Leisure Properties by 1.3% in the third quarter. Securian Asset Management Inc. now owns 21,195 shares of the real estate investment trust’s stock worth $988,000 after acquiring an additional 265 shares in the last quarter. Finally, Apella Capital LLC grew its position in Gaming and Leisure Properties by 4.8% in the third quarter. Apella Capital LLC now owns 5,904 shares of the real estate investment trust’s stock worth $263,000 after acquiring an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Analyst Upgrades and Downgrades

GLPI has been the topic of a number of research reports. Morgan Stanley raised their price target on 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. Scotiabank decreased their price objective on Gaming and Leisure Properties from $50.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. Barclays cut their target price on Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Cantor Fitzgerald reduced their price target on shares of Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Stifel Nicolaus set a $47.75 price objective on shares of Gaming and Leisure Properties in a report on Monday, December 15th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and an average target price of $51.70.

Gaming and Leisure Properties Trading Down 0.1%

Shares of GLPI stock opened at $45.32 on Monday. The business has a 50-day moving average of $44.53 and a 200 day moving average of $45.40. The company has a debt-to-equity ratio of 1.47, a current ratio of 13.23 and a quick ratio of 13.23. Gaming and Leisure Properties, Inc. has a 1-year low of $41.17 and a 1-year high of $52.24. The stock has a market capitalization of $12.83 billion, a PE ratio of 16.42, a P/E/G ratio of 2.51 and a beta of 0.67.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.78 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.12 annualized dividend and a dividend yield of 6.9%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 113.04%.

Insider Activity at Gaming and Leisure Properties

In related news, SVP Steven Ladany sold 18,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $44.77, for a total transaction of $805,860.00. Following the completion of the sale, the senior vice president directly owned 65,099 shares in the company, valued at $2,914,482.23. This represents a 21.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 36,864 shares of company stock valued at $1,650,906 over the last quarter. 4.26% of the stock is owned by insiders.

Gaming and Leisure Properties Company 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.