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

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GLPI. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company restated an “equal weight” rating and set a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research report on Tuesday, October 1st. JMP Securities boosted their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, August 12th. Wolfe Research upgraded 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. Finally, Raymond James boosted 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 report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Gaming and Leisure Properties Stock Performance

GLPI traded down $0.08 during trading on Thursday, hitting $50.84. The stock had a trading volume of 1,026,116 shares, compared to its average volume of 1,307,563. 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 firm has a market capitalization of $13.80 billion, a P/E ratio of 18.76, a PEG ratio of 5.34 and a beta of 0.99. The company’s 50-day moving average price is $51.05 and its 200 day moving average price is $47.40. Gaming and Leisure Properties has a twelve month low of $41.80 and a twelve month high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The company had revenue of $380.60 million for the quarter, compared to analyst estimates of $377.95 million. During the same period last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Gaming and Leisure Properties will post 3.67 EPS for the current fiscal year.

Gaming and Leisure Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid 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 dividend yield of 5.98%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insider Buying and Selling

In related news, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was 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 owns 156,685 shares in the company, valued at $7,660,329.65. This represents 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 in the last three months. Corporate insiders own 4.40% of the company’s stock.

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.