Gaming and Leisure Properties (NASDAQ:GLPI) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

by · The Markets Daily

Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25), Zacks reports. The company had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. 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 Down 2.1 %

Shares of NASDAQ GLPI opened at $49.77 on Friday. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The firm’s 50-day moving average price is $51.09 and its 200-day moving average price is $47.45. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 5.34 and a beta of 0.99.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.11%. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at $5,621,957.46. 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 link. In related news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,478 shares of company stock worth $2,495,429. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLPI. 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 report on Friday, August 23rd. Raymond James upped their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Royal Bank of Canada upped their price objective on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

View Our Latest Stock Analysis on Gaming and Leisure Properties

About Gaming and Leisure Properties

(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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