Gaming and Leisure Properties (NASDAQ:GLPI) Issues Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Gaming and Leisure Properties (NASDAQ:GLPI) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15), Zacks reports. The company had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.66%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business 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 Price Performance

GLPI stock opened at $49.45 on Friday. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $49.99. 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 stock has a market cap of $13.43 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 5.76 and a beta of 0.98. The business has a fifty day moving average of $45.43 and a two-hundred day moving average of $45.21.

Gaming and Leisure Properties Announces Dividend

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

Analyst Ratings Changes

GLPI has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a report on Friday. JMP Securities reiterated a “market outperform” rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, July 15th. Royal Bank of Canada raised their price objective on Gaming and Leisure Properties from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Mizuho dropped 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 report on Friday, May 10th. Finally, Scotiabank raised their price target on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.