Gaming and Leisure Properties (NASDAQ:GLPI) Issues 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 Stock Performance

Shares of NASDAQ GLPI traded down $1.07 during trading hours on Friday, reaching $49.77. 1,539,581 shares of the stock were exchanged, compared to its average volume of 1,308,685. 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 $13.51 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 5.34 and a beta of 0.99. The stock’s fifty day simple moving average is $51.08 and its 200 day simple moving average is $47.42. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.60.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The business had revenue of $385.34 million for the quarter, compared to the consensus estimate of $385.09 million. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Gaming and Leisure Properties will post 3.67 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 6.11%. Gaming and Leisure Properties’s dividend payout ratio is 112.18%.

Analyst Ratings Changes

A number of brokerages have weighed in on GLPI. Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Friday, August 23rd. Scotiabank raised their price target on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 16th. Stifel Nicolaus upped their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a research report on Friday, July 26th. Raymond James boosted their target price on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st. Finally, UBS Group increased their price target on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This 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. Also, Director E Scott Urdang sold 5,605 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the sale, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,478 shares of company stock valued at $2,495,429. 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.