Gaming and Leisure Properties (NASDAQ:GLPI) Releases FY 2024 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.740-3.760 for the period, compared to the consensus earnings per share estimate of 3.760. The company issued revenue guidance of -. Gaming and Leisure Properties also updated its FY24 guidance to $3.74-3.76 EPS.

Gaming and Leisure Properties Price Performance

Gaming and Leisure Properties stock traded down $1.07 during midday 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. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. The stock’s 50-day moving average price is $51.08 and its 200-day moving average price is $47.42. The company has a market capitalization of $13.51 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 5.34 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. During the same period last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Gaming and Leisure Properties will post 3.67 earnings per share for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 6.11%. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Friday, August 23rd. Stifel Nicolaus lifted their price target on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. Scotiabank increased their price objective on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Finally, StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.18.

Insider Buying and Selling at Gaming and Leisure Properties

In related 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 completion of the sale, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated 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 directly owns 108,073 shares in the company, valued at $5,621,957.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is currently 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.