Gaming and Leisure Properties (NASDAQ:GLPI) Issues FY 2024 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.740-3.760 for the period, compared to the consensus EPS estimate of 3.760. The company issued revenue guidance of -. Gaming and Leisure Properties also updated its FY24 guidance to $3.74-3.76 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group raised their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus lifted their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. JMP Securities lifted their price objective on Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Finally, Scotiabank lifted their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Gaming and Leisure Properties Trading Down 2.1 %

GLPI stock traded down $1.07 during midday trading on Friday, hitting $49.77. 1,539,581 shares of the company’s stock were exchanged, compared to its average volume of 1,109,008. The business has a 50-day simple moving average of $51.09 and a two-hundred day simple moving average of $47.46. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $13.66 billion, a PE ratio of 17.22, a P/E/G ratio of 5.82 and a beta of 0.99. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

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

Insider Buying and Selling

In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 $5,621,957.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction on Friday, August 30th. The stock was 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 $5,621,957.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,478 shares of company stock valued at $2,495,429 in the last three months. 4.37% of the stock is owned by corporate insiders.

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.