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

Gaming and Leisure Properties (NASDAQ:GLPI) issued an update on its FY24 earnings guidance on Thursday morning. 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 Trading Down 0.2 %

Gaming and Leisure Properties stock traded down $0.08 during midday trading on Thursday, reaching $50.84. The stock had a trading volume of 1,025,898 shares, compared to its average volume of 1,307,560. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60. The stock has a market capitalization of $13.80 billion, a PE ratio of 18.79, a price-to-earnings-growth 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. The stock’s 50-day simple moving average is $51.05 and its 200 day simple moving average is $47.40.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data 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). The company 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 17.60% and a net margin of 52.79%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. Analysts expect that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLPI. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. JMP Securities boosted their price objective on Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a “market outperform” rating in a report on Monday, August 12th. Scotiabank upped their target price on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, July 16th. Raymond James boosted their price objective on Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Transactions at Gaming and Leisure Properties

In other news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Desiree A. Burke sold 12,973 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now owns 208,977 shares of the company’s stock, valued at $10,459,298.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is owned by 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.