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

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLPI. UBS Group boosted their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Royal Bank of Canada boosted their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Friday, August 23rd. Scotiabank boosted their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Gaming and Leisure Properties Trading Down 0.2 %

Shares of NASDAQ:GLPI traded down $0.08 during trading on Thursday, reaching $50.84. 1,026,116 shares of the stock were exchanged, compared to its average volume of 1,307,563. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.91 and a current ratio of 5.91. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 5.34 and a beta of 0.99. The firm’s 50-day moving average price is $51.08 and its 200 day moving average price is $47.42.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Insider Transactions at Gaming and Leisure Properties

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

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.