Pictet Asset Management SA Has $4.32 Million Stock Position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Pictet Asset Management SA increased its position in Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,171 shares of the real estate investment trust’s stock after buying an additional 3,573 shares during the period. Pictet Asset Management SA’s holdings in Gaming and Leisure Properties were worth $4,319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Gaming and Leisure Properties by 3.6% in the first quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust’s stock valued at $1,605,894,000 after acquiring an additional 1,199,697 shares during the period. BlackRock Inc. increased its stake in Gaming and Leisure Properties by 3.1% during the 1st quarter. BlackRock Inc. now owns 16,323,748 shares of the real estate investment trust’s stock valued at $766,072,000 after purchasing an additional 488,130 shares in the last quarter. Wellington Management Group LLP increased its stake in Gaming and Leisure Properties by 13.6% during the 1st quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock valued at $493,511,000 after purchasing an additional 1,255,222 shares in the last quarter. State Street Corp raised its holdings in Gaming and Leisure Properties by 9.6% during the first quarter. State Street Corp now owns 7,428,567 shares of the real estate investment trust’s stock worth $348,623,000 after buying an additional 650,651 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Gaming and Leisure Properties by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,801,701 shares of the real estate investment trust’s stock valued at $220,204,000 after buying an additional 314,059 shares in the last quarter. 88.45% of the stock is owned by institutional investors.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $50.14 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 10.07 and a beta of 1.02. Gaming and Leisure Properties, Inc. has a 52 week low of $41.81 and a 52 week high of $52.87. The firm’s 50-day simple moving average is $47.82 and its two-hundred day simple moving average is $47.92.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.705 dividend. The ex-dividend date was Thursday, September 15th. This represents a $2.82 annualized dividend and a yield of 5.62%. Gaming and Leisure Properties’s payout ratio is 115.57%.

Analysts Set New Price Targets

Several research firms have recently commented on GLPI. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Citigroup increased their price objective on Gaming and Leisure Properties to $59.00 in a research note on Monday, August 22nd. Royal Bank of Canada initiated coverage on Gaming and Leisure Properties in a research report on Monday, September 19th. They set an “outperform” rating and a $54.00 target price on the stock. JMP Securities initiated coverage on Gaming and Leisure Properties in a research note on Friday, September 23rd. They set an “outperform” rating and a $53.00 price objective on the stock. Finally, Raymond James reduced their target price on shares of Gaming and Leisure Properties from $56.00 to $53.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties has an average rating of “Moderate Buy” and a consensus target price of $54.80.

About Gaming and Leisure Properties

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GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Institutional Ownership by Quarter for Gaming and Leisure Properties (NASDAQ:GLPI)

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