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

by · The Markets Daily

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

Gaming and Leisure Properties Trading Down 0.2 %

Shares of GLPI traded down $0.08 during mid-day trading on Thursday, reaching $50.84. The stock had a trading volume of 1,026,116 shares, compared to its average volume of 1,307,563. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.91 and a quick ratio of 5.91. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60. The business’s fifty day moving average is $51.08 and its 200 day moving average is $47.42. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 5.34 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 5.98%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Analysts Set New Price Targets

Several research analysts have weighed in on GLPI shares. JMP Securities increased their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Monday, August 12th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of 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. Royal Bank of Canada increased their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.18.

Check Out Our Latest Stock Analysis on Gaming and Leisure Properties

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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 in the company, valued at $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Gaming and Leisure Properties news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,478 shares of company stock worth $2,495,429 over the last three months. Insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Company Profile

(Get Free Report)

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.

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