Gaming and Leisure Properties (NASDAQ:GLPI) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Gaming and Leisure Properties (NASDAQ:GLPI) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25), Zacks reports. The business had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. Gaming and Leisure Properties’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $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 %

Gaming and Leisure Properties stock opened at $49.77 on Friday. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a market cap of $13.66 billion, a PE ratio of 17.22, a PEG ratio of 5.82 and a beta of 0.99. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. The business’s 50-day simple moving average is $51.09 and its two-hundred day simple moving average is $47.46.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 6.11%. Gaming and Leisure Properties’s dividend payout ratio is currently 105.19%.

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the sale, the chief operating officer now owns 208,977 shares in the company, valued at $10,459,298.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,478 shares of company stock worth $2,495,429 over the last three months. 4.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GLPI has been the topic of several recent research reports. Royal Bank of Canada increased their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. UBS Group lifted their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Raymond James increased their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Finally, JMP Securities boosted 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. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gaming and Leisure Properties presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

About Gaming and Leisure Properties

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.