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

Gaming and Leisure Properties (NASDAQ:GLPI) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25), Zacks reports. The company had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company’s revenue was up 7.2% compared to the same quarter last year. 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 GLPI traded down $1.07 during mid-day trading on Friday, hitting $49.77. The company’s stock had a trading volume of 1,539,581 shares, compared to its average volume of 1,308,685. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The company’s 50-day moving average is $51.08 and its 200-day moving average is $47.42. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.60. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 5.34 and a beta of 0.99.

Gaming and Leisure Properties Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 target price (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. JMP Securities raised 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 report on Monday, August 12th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Scotiabank boosted their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus upped their target price on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction 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 owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the firm’s 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $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. Insiders have sold a total of 49,478 shares of company stock valued at $2,495,429 over the last ninety days. 4.40% of the stock is owned by company insiders.

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.