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

Gaming and Leisure Properties (NASDAQ:GLPI) posted its earnings results on Thursday. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15), Zacks reports. The business 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%. Gaming and Leisure Properties’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior 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 %

Gaming and Leisure Properties stock traded up $0.47 during trading on Friday, reaching $49.45. The stock had a trading volume of 1,425,795 shares, compared to its average volume of 1,340,047. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $49.99. The stock has a market cap of $13.43 billion, a PE ratio of 18.25, a P/E/G ratio of 5.71 and a beta of 0.98. The business has a 50 day moving average price of $45.43 and a 200 day moving average price of $45.21.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 6.15%. Gaming and Leisure Properties’s payout ratio is 112.18%.

Wall Street Analyst Weigh In

A number of research firms have commented on GLPI. Wells Fargo & Company decreased their target price on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. JMP Securities restated a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, July 15th. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Wedbush restated an “outperform” rating and set a $51.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. Finally, Royal Bank of Canada lifted their price objective on Gaming and Leisure Properties from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.41.

About Gaming and Leisure Properties

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.