Gaming and Leisure Properties (NASDAQ:GLPI) Updates 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 EPS guidance of 3.740-3.760 for the period, compared to the consensus EPS 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

NASDAQ GLPI traded down $1.07 during trading on Friday, hitting $49.77. 1,539,581 shares of the stock traded hands, compared to its average volume of 1,109,008. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.60. The firm has a 50-day simple moving average of $51.09 and a 200-day simple moving average of $47.45. The company has a market capitalization of $13.66 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 5.82 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The business had revenue of $385.34 million during 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 company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. As a group, analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s payout ratio is 105.19%.

Analyst Ratings Changes

GLPI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Raymond James lifted their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Scotiabank increased their target price 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Finally, 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 on the stock in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Activity at Gaming and Leisure Properties

In other news, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total value 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 approximately $10,459,298.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Brandon John Moore sold 30,900 shares of Gaming and Leisure Properties stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at approximately $10,459,298.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,478 shares of company stock worth $2,495,429 over the last three months. 4.37% of the stock is owned by corporate 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.