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

Kestra Investment Management LLC lifted its holdings in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 129.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,839 shares of the real estate investment trust’s stock after acquiring an additional 10,623 shares during the period. Kestra Investment Management LLC’s holdings in Gaming and Leisure Properties were worth $907,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assetmark Inc. grew its stake in shares of Gaming and Leisure Properties by 2,547.6% during the third quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 535 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth about $31,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 purchasing an additional 384 shares during the period. CKW Financial Group lifted its holdings in shares of 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 purchasing an additional 300 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Gaming and Leisure Properties by 3,191.3% during 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 period. Hedge funds and other institutional investors own 91.14% of the company’s stock.

Gaming and Leisure Properties Stock Up 0.9 %

Shares of GLPI opened at $49.04 on Wednesday. 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, Inc. has a one year low of $41.80 and a one year high of $52.60. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 2.01 and a beta of 0.99. The stock has a 50 day moving average price of $48.17 and a 200 day moving average price of $49.76.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, December 6th. Gaming and Leisure Properties’s payout ratio is 106.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GLPI shares. Mizuho decreased their target price on 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. JMP Securities reissued a “market outperform” rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, December 18th. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $49.00 to $54.00 in a report on Friday, December 13th. Scotiabank decreased their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Finally, StockNews.com downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Insider Buying and Selling

In other Gaming and Leisure Properties news, SVP Matthew Demchyk sold 1,149 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $47.80, for a total value of $54,922.20. Following the completion of the sale, the senior vice president now directly owns 91,620 shares in the company, valued at $4,379,436. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 278,634 shares of the company’s stock, valued at approximately $13,329,850.56. The trade was a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,222 shares of company stock worth $1,624,947. 4.37% of the stock is owned by corporate insiders.

Gaming and Leisure Properties 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.