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.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a buy rating in a research report on Friday. Wells Fargo & Company decreased their price objective on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating on the stock in a research note on Thursday, May 30th. StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Friday, July 19th. UBS Group boosted their price objective on 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. Finally, Mizuho decreased their price objective on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Gaming and Leisure Properties presently has a consensus rating of Moderate Buy and a consensus price target of $51.41.

Gaming and Leisure Properties Stock Performance

NASDAQ GLPI traded up $0.47 on Friday, hitting $49.45. 1,425,795 shares of the company traded hands, compared to its average volume of 1,340,047. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 5.71 and a beta of 0.98. The company has a current ratio of 6.47, a quick 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.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The firm had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Gaming and Leisure Properties will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.76 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.04 annualized dividend and a dividend yield of 6.15%. Gaming and Leisure Properties’s payout ratio is 112.18%.

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.