Kestra Investment Management LLC Grows Position 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% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,839 shares of the real estate investment trust’s stock after acquiring an additional 10,623 shares during the quarter. Kestra Investment Management LLC’s holdings in Gaming and Leisure Properties were worth $907,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. grew its holdings in shares of Gaming and Leisure Properties by 2,547.6% during the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 535 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $31,000. Farther Finance Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 142.2% during the 3rd 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 stake in Gaming and Leisure Properties by 75.0% during the 4th quarter. CKW Financial Group now owns 700 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in Gaming and Leisure Properties by 3,191.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 757 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 734 shares in the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Matthew Demchyk sold 17,617 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $49.40, for a total transaction of $870,279.80. Following the transaction, the senior vice president now owns 54,140 shares in the company, valued at $2,674,516. This trade represents a 24.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brandon John Moore sold 3,982 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $47.84, for a total value of $190,498.88. Following the transaction, the chief operating officer now owns 278,634 shares in the company, valued at $13,329,850.56. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,222 shares of company stock worth $1,624,947 in the last quarter. 4.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GLPI has been the topic of several research reports. JPMorgan Chase & Co. raised Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. JMP Securities reissued a “market outperform” rating and set a $55.00 target price on shares of Gaming and Leisure Properties in a research note on Wednesday, December 18th. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank decreased their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, Mizuho reduced their price target on Gaming and Leisure Properties from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.93.

Gaming and Leisure Properties Trading Up 0.9 %

GLPI opened at $49.04 on Wednesday. Gaming and Leisure Properties, Inc. has a one year low of $41.80 and a one year high of $52.60. The company has a market cap of $13.46 billion, a P/E ratio of 17.15, a PEG ratio of 2.01 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. The business’s 50-day simple moving average is $48.17 and its 200-day simple moving average is $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 paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 dividend on an annualized basis and a yield of 6.20%. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

About Gaming and Leisure Properties

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.