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 (EPS) guidance of 3.740-3.760 for the period, compared to the consensus 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 Trading Down 0.2 %

Shares of NASDAQ GLPI traded down $0.08 on Thursday, reaching $50.84. 1,026,116 shares of the company traded hands, compared to its average volume of 1,307,563. The company has a 50 day moving average of $51.05 and a 200 day moving average of $47.40. The stock has a market capitalization of $13.80 billion, a PE ratio of 18.76, a P/E/G ratio of 5.34 and a beta of 0.99. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business 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 firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Analyst Ratings Changes

Several analysts have issued reports on GLPI shares. UBS Group increased their price objective on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus increased their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a “buy” rating in a research report 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 report on Tuesday, July 16th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Friday, August 23rd. Finally, Royal Bank of Canada increased their target price on Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.18.

Insider Buying and Selling

In related news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total transaction of $674,855.46. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. This trade 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 link. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the completion of the sale, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,478 shares of company stock worth $2,495,429 over the last ninety days. 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.