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

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.74-$3.76 for the period, compared to the consensus earnings per share estimate of $3.76.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLPI shares. Wedbush reaffirmed an outperform rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Mizuho cut their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research note on Friday, May 10th. UBS Group upped their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Scotiabank upped their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a sector perform rating in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus upped their target price on shares of Gaming and Leisure Properties from $50.75 to $51.00 and gave the stock a buy rating in a research note on Friday, May 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has an average rating of Moderate Buy and an average target price of $51.27.

Gaming and Leisure Properties Stock Up 0.9 %

NASDAQ GLPI traded up $0.42 on Thursday, hitting $48.98. 1,506,642 shares of the stock were exchanged, compared to its average volume of 1,339,441. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $49.99. The company has a market cap of $13.30 billion, a PE ratio of 18.24, a PEG ratio of 5.75 and a beta of 0.98. The company has a 50-day moving average price of $45.30 and a 200-day moving average price of $45.18.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The company had revenue of $376.00 million during the quarter, compared to analyst estimates of $368.44 million. During the same quarter in the previous year, the company posted $0.92 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is 112.18%.

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.