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

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

Shares of GLPI traded up $0.47 during mid-day trading on Friday, reaching $49.45. The stock had a trading volume of 1,425,927 shares, compared to its average volume of 1,341,977. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 5.76 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. The business has a fifty day moving average of $45.43 and a 200 day moving average of $45.21. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47.

Gaming and Leisure Properties Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on GLPI shares. JMP Securities reissued a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, July 15th. UBS Group boosted 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 report on Tuesday, July 16th. Royal Bank of Canada upped their target price on shares of Gaming and Leisure Properties from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a report on Friday, May 17th. Finally, Scotiabank upped their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Gaming and Leisure Properties has an average rating of “Moderate Buy” and an average price target of $51.41.

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.