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 Analyst Weigh In

A number of brokerages have recently weighed in on GLPI. Wells Fargo & Company dropped their price objective on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating on the stock in a report on Thursday, May 30th. Morgan Stanley reissued an overweight rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, June 21st. StockNews.com raised shares of Gaming and Leisure Properties from a hold rating to a buy rating in a report on Friday, July 19th. Scotiabank boosted their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a sector perform rating in a report on Tuesday, July 16th. Finally, UBS Group upped their price target on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a buy rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $51.41.

Gaming and Leisure Properties Price Performance

Shares of GLPI traded up $0.47 during mid-day trading on Friday, hitting $49.45. 1,425,795 shares of the company were exchanged, compared to its average volume of 1,340,047. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $49.99. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The company has a 50 day moving average of $45.43 and a 200-day moving average of $45.21. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 5.71 and a beta of 0.98.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The business had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same period in the prior year, the company posted $0.92 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. Analysts expect that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

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

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.