Envestnet Asset Management Inc. Increases Stake in Gaming and Leisure Properties, Inc. $GLPI

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management raised its stake in Gaming and Leisure Properties by 62.3% during the third quarter. Spire Wealth Management now owns 620 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 238 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Gaming and Leisure Properties by 89.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 655 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Gaming and Leisure Properties in the 3rd quarter worth $31,000. Bayforest Capital Ltd boosted its holdings in Gaming and Leisure Properties by 412.1% in the third quarter. Bayforest Capital Ltd now owns 676 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 544 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Gaming and Leisure Properties in the second quarter valued at $39,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $46.40 on Friday. Gaming and Leisure Properties, Inc. has a 52 week low of $41.17 and a 52 week high of $52.24. The company has a current ratio of 13.23, a quick ratio of 13.23 and a debt-to-equity ratio of 1.47. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.55 and a beta of 0.67. The stock has a 50 day moving average of $44.84 and a 200-day moving average of $45.40.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.78 per share. 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 presently 113.04%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho set a $50.00 price target on Gaming and Leisure Properties and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Barclays boosted their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Gaming and Leisure Properties in a report on Thursday, January 22nd. UBS Group reaffirmed a “buy” rating on shares of Gaming and Leisure Properties in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $53.00 in a research report on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.86.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, SVP Steven Ladany sold 13,409 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $45.04, for a total value of $603,941.36. Following the transaction, the senior vice president directly owned 57,886 shares in the company, valued at approximately $2,607,185.44. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 36,864 shares of company stock worth $1,650,906 over the last 90 days. 4.26% of the stock is currently owned by corporate 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.