Gaming and Leisure Properties (NASDAQ:GLPI) Releases FY24 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.71-3.74 for the period, compared to the consensus earnings per share estimate of $3.74. Gaming and Leisure Properties also updated its FY 2024 guidance to 3.710-3.740 EPS.

Gaming and Leisure Properties Price Performance

GLPI traded down $0.97 during midday trading on Friday, reaching $42.46. 1,753,831 shares of the company’s stock were exchanged, compared to its average volume of 1,050,317. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.31. The stock has a market capitalization of $11.53 billion, a PE ratio of 15.67, a P/E/G ratio of 5.43 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The business’s 50-day moving average price is $44.87 and its 200 day moving average price is $45.91.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.76 per share. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.04 annualized dividend and a yield of 7.16%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Analysts Set New Price Targets

A number of analysts recently commented on GLPI shares. Morgan Stanley decreased their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research note on Thursday, March 21st. StockNews.com raised shares of Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Thursday, February 29th. Royal Bank of Canada reduced their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Mizuho lowered their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a research report on Thursday, March 7th. Finally, JMP Securities reissued a market outperform rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of Moderate Buy and an average price target of $52.09.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the acquisition, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.40% of the stock is currently 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.