Gaming and Leisure Properties (NASDAQ:GLPI) Announces Quarterly Earnings Results

Gaming and Leisure Properties (NASDAQ:GLPI) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25), Zacks reports. The firm had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Gaming and Leisure Properties updated its FY24 guidance to $3.74-3.76 EPS and its FY 2024 guidance to 3.740-3.760 EPS.

Gaming and Leisure Properties Stock Down 2.1 %

Shares of GLPI stock traded down $1.07 on Friday, hitting $49.77. The stock had a trading volume of 1,539,581 shares, compared to its average volume of 1,308,685. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The business has a 50 day moving average price of $51.08 and a 200 day moving average price of $47.42. The company has a market cap of $13.51 billion, a PE ratio of 18.76, a P/E/G ratio of 5.34 and a beta of 0.99. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.60.

Gaming and Leisure Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a dividend yield of 6.11%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on GLPI shares. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. JMP Securities lifted their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 target price (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Company Profile

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.