Gaming and Leisure Properties (NASDAQ:GLPI) Releases Earnings Results, Misses Expectations By $0.03 EPS

by · The Markets Daily

Gaming and Leisure Properties (NASDAQ:GLPI – Get Free Report) announced its earnings results on Thursday. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03), FiscalAI reports. Gaming and Leisure Properties had a net margin of 49.54% and a return on equity of 16.34%. The business had revenue of $407.03 million during the quarter, compared to the consensus estimate of $406.02 million.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded up $0.64 on Thursday, hitting $47.35. 2,575,677 shares of the company’s stock were exchanged, compared to its average volume of 2,384,990. The company has a 50 day moving average of $45.15 and a 200 day moving average of $45.42. The stock has a market cap of $13.40 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 2.61 and a beta of 0.67. The company has a debt-to-equity ratio of 1.47, a current ratio of 13.23 and a quick ratio of 13.23. Gaming and Leisure Properties has a 12 month low of $41.17 and a 12 month high of $52.24.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Friday, December 5th. Gaming and Leisure Properties’s dividend payout ratio is currently 113.04%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GLPI shares. JPMorgan Chase & Co. raised shares of Gaming and Leisure Properties from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $52.00 to $53.00 in a report on Friday, December 12th. Stifel Nicolaus set a $48.50 price target on shares of Gaming and Leisure Properties in a research report on Thursday, February 12th. Morgan Stanley boosted their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 24th. Cantor Fitzgerald lowered their price objective on Gaming and Leisure Properties from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, Barclays upped their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price of $51.86.

View Our Latest Report on Gaming and Leisure Properties

Insider Buying and Selling

In other news, SVP Steven Ladany sold 18,000 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $44.77, for a total value of $805,860.00. Following the completion of the transaction, the senior vice president owned 65,099 shares of the company’s stock, valued at approximately $2,914,482.23. This represents a 21.66% 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. Insiders sold a total of 36,864 shares of company stock worth $1,650,906 over the last three months. 4.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its position in Gaming and Leisure Properties by 538.0% in the fourth quarter. Corient Private Wealth LLC now owns 120,920 shares of the real estate investment trust’s stock valued at $5,404,000 after buying an additional 101,966 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Gaming and Leisure Properties by 18.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 122,901 shares of the real estate investment trust’s stock valued at $5,492,000 after acquiring an additional 18,965 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at $1,733,000. Fuller & Thaler Asset Management Inc. increased its holdings in Gaming and Leisure Properties by 32.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 119,727 shares of the real estate investment trust’s stock worth $5,351,000 after purchasing an additional 29,343 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Gaming and Leisure Properties by 10,555.7% in the fourth quarter. NewEdge Advisors LLC now owns 7,459 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 7,389 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

(Get Free Report)

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.

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