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

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.74-3.76 for the period, compared to the consensus earnings per share 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

A number of equities research analysts have weighed in on the company. JMP Securities lifted their target price on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, August 12th. UBS Group boosted their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Scotiabank boosted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada boosted their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Stock Down 2.1 %

NASDAQ:GLPI traded down $1.07 during mid-day trading on Friday, hitting $49.77. 1,539,581 shares of the company’s stock traded hands, compared to its average volume of 1,308,685. The company has a fifty day moving average of $51.08 and a 200 day moving average of $47.42. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60. The company has a market capitalization of $13.51 billion, a P/E ratio of 18.76, a P/E/G ratio of 5.34 and a beta of 0.99. 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 (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm 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 revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, analysts forecast that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

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

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the sale, the director now owns 156,685 shares in the company, valued at $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,478 shares of company stock worth $2,495,429. 4.40% of the stock is currently owned by 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.