Prudential PLC Makes New Investment in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Prudential PLC bought a new position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) during the fourth quarter, HoldingsChannel.com reports. The firm bought 39,365 shares of the real estate investment trust’s stock, valued at approximately $2,051,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GLPI. Zions Bancorporation N.A. acquired a new position in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $43,000. CWM LLC grew its position in shares of Gaming and Leisure Properties by 50.9% during the 3rd quarter. CWM LLC now owns 1,005 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 339 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Gaming and Leisure Properties during the 3rd quarter worth approximately $54,000. Belpointe Asset Management LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $56,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth approximately $68,000. Institutional investors and hedge funds own 90.69% of the company’s stock.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $49.10 on Friday. The company has a fifty day moving average price of $51.05 and a 200-day moving average price of $51.65. The company has a market capitalization of $12.88 billion, a P/E ratio of 16.87, a PEG ratio of 4.70 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 52-week low of $42.71 and a 52-week high of $55.13. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.08 and a current ratio of 0.08.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Thursday, March 9th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.71. This represents a $3.88 annualized dividend and a dividend yield of 7.90%. Gaming and Leisure Properties’s dividend payout ratio is 98.97%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Raymond James increased their price target on shares of Gaming and Leisure Properties from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, April 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $57.00 price target on shares of Gaming and Leisure Properties in a research report on Tuesday, March 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.80.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang purchased 1,000 shares of Gaming and Leisure Properties stock in a transaction on Wednesday, March 1st. The stock was acquired at an average cost of $53.82 per share, for a total transaction of $53,820.00. Following the completion of the acquisition, the director now owns 150,132 shares of the company’s stock, valued at approximately $8,080,104.24. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by corporate insiders.

Gaming and Leisure Properties Company Profile

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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.