Gaming and Leisure Properties, Inc. $GLPI Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 510,364 shares of the real estate investment trust’s stock after acquiring an additional 24,225 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Gaming and Leisure Properties worth $23,788,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Dodge & Cox grew its stake in shares of Gaming and Leisure Properties by 0.8% during the 2nd quarter. Dodge & Cox now owns 13,618,357 shares of the real estate investment trust’s stock worth $635,705,000 after purchasing an additional 108,748 shares during the period. Geode Capital Management LLC boosted its holdings in Gaming and Leisure Properties by 7.5% during the second quarter. Geode Capital Management LLC now owns 6,948,979 shares of the real estate investment trust’s stock worth $323,683,000 after buying an additional 483,174 shares in the last quarter. Invesco Ltd. grew its position in Gaming and Leisure Properties by 3.2% during the second quarter. Invesco Ltd. now owns 4,657,406 shares of the real estate investment trust’s stock worth $217,408,000 after buying an additional 145,172 shares during the period. Jennison Associates LLC increased its holdings in Gaming and Leisure Properties by 8.1% in the second quarter. Jennison Associates LLC now owns 4,599,033 shares of the real estate investment trust’s stock valued at $214,683,000 after buying an additional 346,462 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Gaming and Leisure Properties during the 2nd quarter valued at approximately $175,169,000. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI opened at $46.40 on Friday. The company has a market cap of $13.13 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.55 and a beta of 0.67. Gaming and Leisure Properties, Inc. has a 12 month low of $41.17 and a 12 month high of $52.24. The company has a debt-to-equity ratio of 1.47, a current ratio of 13.23 and a quick ratio of 13.23. The company has a 50-day simple moving average of $44.84 and a 200-day simple moving average of $45.40.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders 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 yield of 6.7%. Gaming and Leisure Properties’s payout ratio is 113.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GLPI shares. Morgan Stanley upped their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 24th. Stifel Nicolaus set a $48.50 target price on Gaming and Leisure Properties in a report on Thursday. Cantor Fitzgerald dropped their price target on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Scotiabank decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, February 2nd. Finally, Barclays increased their price objective on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.86.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, SVP Steven Ladany sold 18,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $44.77, for a total transaction of $805,860.00. Following the sale, the senior vice president owned 65,099 shares in the company, valued at $2,914,482.23. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 36,864 shares of company stock worth $1,650,906. Corporate insiders own 4.26% of the company’s stock.

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.