Kennedy Investment Group Has $886,000 Stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Kennedy Investment Group decreased its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,396 shares of the real estate investment trust’s stock after selling 496 shares during the quarter. Kennedy Investment Group’s holdings in Gaming and Leisure Properties were worth $886,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GLPI. Assetmark Inc. raised its position in 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 last quarter. Farther Finance Advisors LLC increased its position in Gaming and Leisure Properties by 142.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 384 shares in the last quarter. CKW Financial Group boosted 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 valued at $34,000 after purchasing an additional 300 shares during the last quarter. Abich Financial Wealth Management LLC boosted 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 valued at $39,000 after purchasing an additional 734 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Gaming and Leisure Properties during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Transactions at Gaming and Leisure Properties

In related news, SVP Matthew Demchyk sold 10,474 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $48.62, for a total value of $509,245.88. Following the completion of the transaction, the senior vice president now directly owns 71,757 shares in the company, valued at approximately $3,488,825.34. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Scott Urdang sold 3,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $50.39, for a total transaction of $151,170.00. Following the completion of the transaction, the director now owns 146,800 shares of the company’s stock, valued at $7,397,252. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,605 shares of company stock valued at $905,837. 4.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $49.00 to $54.00 in a research note on Friday, December 13th. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Barclays assumed coverage on Gaming and Leisure Properties in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $54.53 target price on the stock. Morgan Stanley cut shares of Gaming and Leisure Properties from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a report on Wednesday, January 15th. Finally, StockNews.com cut shares of 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 given a buy rating to the company. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and an average price target of $53.93.

Gaming and Leisure Properties Trading Down 1.4 %

Shares of GLPI stock opened at $48.91 on Wednesday. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.96 and a beta of 0.99. Gaming and Leisure Properties, Inc. has a 1 year low of $41.80 and a 1 year high of $52.60. The company’s fifty day simple moving average is $48.85 and its two-hundred day simple moving average is $49.81. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.04 annualized dividend and a dividend yield of 6.22%. Gaming and Leisure Properties’s payout ratio is currently 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.