Gaming and Leisure Properties (NASDAQ:GLPI) Issues Earnings Results

Gaming and Leisure Properties (NASDAQ:GLPI) announced its earnings results on Thursday. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15), Zacks reports. The firm had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. 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 Up 1.0 %

Shares of NASDAQ GLPI traded up $0.47 during midday trading on Friday, hitting $49.45. 1,425,795 shares of the company’s stock were exchanged, compared to its average volume of 1,340,047. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $49.99. The company has a market cap of $13.43 billion, a PE ratio of 17.98, a P/E/G ratio of 5.71 and a beta of 0.98. The firm’s fifty day simple moving average is $45.37 and its 200-day simple moving average is $45.21.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GLPI shares. UBS Group boosted 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 boosted their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research note on Friday. Scotiabank increased their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 16th. Morgan Stanley reiterated an “overweight” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Finally, Wells Fargo & Company decreased their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.41.

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.