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

Gaming and Leisure Properties (NASDAQ:GLPI) posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $377.95 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company 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 Performance

Shares of Gaming and Leisure Properties stock traded up $0.47 during trading on Friday, reaching $49.45. The company’s 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. The business’s 50-day moving average price is $45.43 and its 200-day moving average price is $45.21. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $49.99. The firm 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.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.15%. The ex-dividend date was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is 112.18%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GLPI shares. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, June 21st. Stifel Nicolaus increased their price target on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada boosted their price objective on shares of Gaming and Leisure Properties from $47.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Mizuho cut 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 research note on Friday, May 10th. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.41.

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.