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

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.74-$3.76 for the period, compared to the consensus EPS estimate of $3.76. Gaming and Leisure Properties also updated its FY 2024 guidance to 3.740-3.760 EPS.

Analysts Set New Price Targets

GLPI has been the topic of several research analyst reports. StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Friday, July 19th. Mizuho lowered their price objective on Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research note on Friday, May 10th. UBS Group increased their target price on shares of Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Wells Fargo & Company lowered their price target on shares of Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating on the stock in a research report on Thursday, May 30th. Finally, Wedbush reaffirmed an outperform rating and issued a $51.00 price objective on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $51.41.

Gaming and Leisure Properties Price Performance

NASDAQ:GLPI traded up $0.47 during mid-day trading on Friday, hitting $49.45. 1,425,927 shares of the stock traded hands, compared to its average volume of 1,341,977. The business’s 50-day moving average price is $45.43 and its 200 day moving average price is $45.20. 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 company has a market cap of $13.43 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 5.82 and a beta of 0.98. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $49.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.66%. The firm had revenue of $380.60 million for the quarter, compared to analysts’ expectations of $377.95 million. During the same quarter last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts expect that Gaming and Leisure Properties will post 3.66 EPS for the current fiscal year.

Gaming and Leisure Properties Announces Dividend

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

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.