Gaming and Leisure Properties (NASDAQ:GLPI) Issues FY24 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.71-3.74 for the period, compared to the consensus EPS estimate of $3.74. Gaming and Leisure Properties also updated its FY 2024 guidance to 3.710-3.740 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GLPI. Royal Bank of Canada lowered their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating for the company in a report on Thursday, February 29th. StockNews.com upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Thursday, February 29th. Mizuho decreased their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a report on Thursday, March 7th. JMP Securities restated a market outperform rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, Morgan Stanley decreased their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating for the company in a report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of Moderate Buy and an average target price of $52.09.

Gaming and Leisure Properties Stock Performance

GLPI stock traded down $0.97 during midday trading on Friday, reaching $42.46. 1,753,831 shares of the company were exchanged, compared to its average volume of 1,050,317. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $52.31. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 5.31 and a beta of 0.94. The business has a 50-day moving average price of $44.82 and a two-hundred day moving average price of $45.88. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41.

Gaming and Leisure Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.76 dividend. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 7.16%. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate 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.