Kennedy Investment Group Cuts Stock Holdings in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Kennedy Investment Group trimmed its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,396 shares of the real estate investment trust’s stock after selling 496 shares during the period. Kennedy Investment Group’s holdings in Gaming and Leisure Properties were worth $886,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new stake in Gaming and Leisure Properties during the third quarter valued at about $693,000. Sanctuary Advisors LLC boosted its position in Gaming and Leisure Properties by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 32,316 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 13,965 shares during the period. Zacks Investment Management boosted its position in Gaming and Leisure Properties by 10.9% during the third quarter. Zacks Investment Management now owns 522,197 shares of the real estate investment trust’s stock valued at $26,867,000 after buying an additional 51,398 shares during the period. Cerity Partners LLC boosted its position in Gaming and Leisure Properties by 87.5% during the third quarter. Cerity Partners LLC now owns 14,410 shares of the real estate investment trust’s stock valued at $741,000 after buying an additional 6,724 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Gaming and Leisure Properties by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 1,503,392 shares of the real estate investment trust’s stock valued at $77,350,000 after buying an additional 173,810 shares during the period. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 3,982 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.84, for a total value of $190,498.88. Following the completion of the transaction, the chief operating officer now directly owns 278,634 shares in the company, valued at $13,329,850.56. The trade was a 1.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew Demchyk sold 1,149 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total transaction of $54,922.20. Following the completion of the transaction, the senior vice president now owns 91,620 shares of the company’s stock, valued at approximately $4,379,436. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,605 shares of company stock valued at $905,837. Corporate insiders own 4.37% of the company’s stock.

Wall Street Analyst Weigh In

GLPI has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and upped their price target for the company from $49.00 to $54.00 in a research report on Friday, December 13th. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $49.00 to $54.00 in a report on Wednesday, November 20th. Stifel Nicolaus increased their target price on shares of Gaming and Leisure Properties from $53.25 to $57.50 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Barclays started coverage on shares of Gaming and Leisure Properties in a report on Tuesday, December 17th. They set an “equal weight” rating and a $54.53 target price for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $48.91 on Wednesday. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a 50 day simple moving average of $48.85 and a two-hundred day simple moving average of $49.81. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.96 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date was Friday, December 6th. Gaming and Leisure Properties’s dividend payout ratio is 106.29%.

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.