Allianz Asset Management GmbH Boosts Stock Position in Gaming and Leisure Properties, Inc. $GLPI

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. AGF Management Ltd. lifted its holdings in Gaming and Leisure Properties by 4.6% in the 3rd quarter. AGF Management Ltd. now owns 68,218 shares of the real estate investment trust’s stock worth $3,180,000 after buying an additional 2,970 shares during the period. Mediolanum International Funds Ltd raised its holdings in shares of Gaming and Leisure Properties by 6.8% during the third quarter. Mediolanum International Funds Ltd now owns 49,576 shares of the real estate investment trust’s stock valued at $2,324,000 after acquiring an additional 3,136 shares in the last quarter. UMB Bank n.a. lifted its stake in Gaming and Leisure Properties by 48.2% in the third quarter. UMB Bank n.a. now owns 3,135 shares of the real estate investment trust’s stock worth $146,000 after acquiring an additional 1,020 shares during the period. Frank Rimerman Advisors LLC lifted its stake in Gaming and Leisure Properties by 21.0% in the third quarter. Frank Rimerman Advisors LLC now owns 31,228 shares of the real estate investment trust’s stock worth $1,456,000 after acquiring an additional 5,415 shares during the period. Finally, National Pension Service boosted its holdings in Gaming and Leisure Properties by 26.6% in the third quarter. National Pension Service now owns 273,012 shares of the real estate investment trust’s stock valued at $12,725,000 after acquiring an additional 57,282 shares in the last quarter. Institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Performance

Gaming and Leisure Properties stock opened at $45.32 on Monday. Gaming and Leisure Properties, Inc. has a twelve month low of $41.17 and a twelve month high of $52.24. The company has a quick ratio of 13.23, a current ratio of 13.23 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $12.83 billion, a P/E ratio of 16.42, a PEG ratio of 2.51 and a beta of 0.67. The stock’s 50 day moving average is $44.53 and its 200 day moving average is $45.40.

Gaming and Leisure Properties Announces Dividend

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

Insider Activity

In related news, SVP Steven Ladany sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $44.77, for a total value of $805,860.00. Following the transaction, the senior vice president directly owned 65,099 shares of the company’s stock, valued at approximately $2,914,482.23. This represents a 21.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 36,864 shares of company stock valued at $1,650,906 in the last 90 days. Corporate insiders own 4.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays decreased their price objective on shares of Gaming and Leisure Properties from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. Scotiabank decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, February 2nd. UBS Group reaffirmed a “buy” rating on shares of Gaming and Leisure Properties in a research report on Thursday, January 8th. Morgan Stanley upped their target price 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. Finally, Stifel Nicolaus set a $47.75 target price on Gaming and Leisure Properties in a research note on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.70.

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.