Kestra Investment Management LLC Raises Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Kestra Investment Management LLC lifted its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 129.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,839 shares of the real estate investment trust's stock after acquiring an additional 10,623 shares during the quarter. Kestra Investment Management LLC's holdings in Gaming and Leisure Properties were worth $907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. lifted its position in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock worth $29,000 after buying an additional 535 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its holdings in Gaming and Leisure Properties by 142.2% during the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 384 shares during the period. CKW Financial Group lifted its holdings in Gaming and Leisure Properties by 75.0% during the fourth quarter. CKW Financial Group now owns 700 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 300 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its position in Gaming and Leisure Properties by 3,191.3% in the third quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 91.14% of the company's stock.

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Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded down $0.28 during midday trading on Friday, reaching $49.11. 2,111,103 shares of the company traded hands, compared to its average volume of 875,898. The firm's fifty day moving average price is $48.14 and its two-hundred day moving average price is $49.77. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a 12 month low of $41.80 and a 12 month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.01. Gaming and Leisure Properties had a return on equity of 17.41% and a net margin of 51.65%. The business had revenue of $389.62 million during the quarter, compared to analyst estimates of $391.54 million. On average, equities analysts expect that Gaming and Leisure Properties, Inc. will post 3.81 earnings per share for the current year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.19%. The ex-dividend date is Friday, March 14th. Gaming and Leisure Properties's dividend payout ratio is presently 105.92%.

Analyst Upgrades and Downgrades

GLPI has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on Gaming and Leisure Properties from $53.25 to $57.50 and gave the company a "buy" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $49.00 to $54.00 in a research report on Friday, December 13th. Morgan Stanley cut shares of Gaming and Leisure Properties from an "overweight" rating to an "equal weight" rating and set a $53.00 target price on the stock. in a research note on Wednesday, January 15th. Barclays began coverage on shares of Gaming and Leisure Properties in a research note on Tuesday, December 17th. They set an "equal weight" rating and a $54.53 price target for the company. Finally, Scotiabank dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.93.

Insider Activity

In other news, SVP Matthew Demchyk sold 17,617 shares of Gaming and Leisure Properties stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $49.40, for a total transaction of $870,279.80. Following the completion of the sale, the senior vice president now owns 54,140 shares in the company, valued at approximately $2,674,516. This trade represents a 24.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brandon John Moore sold 3,982 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total transaction of $190,498.88. Following the completion of the transaction, the chief operating officer now owns 278,634 shares in the company, valued at approximately $13,329,850.56. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,222 shares of company stock worth $1,624,947 in the last three months. Corporate insiders own 4.37% of the company's stock.

Gaming and Leisure Properties Company 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.