Gaming and Leisure Properties (GLPI) to Release Quarterly Earnings on Thursday

Gaming and Leisure Properties (NASDAQ:GLPI) will be announcing its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.92 per share for the quarter. Gaming and Leisure Properties has set its FY24 guidance at $3.74-$3.76 EPS and its FY 2024 guidance at 3.740-3.760 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $380.60 million for the quarter, compared to the consensus estimate of $377.95 million. Gaming and Leisure Properties had a return on equity of 17.60% and a net margin of 52.79%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. On average, analysts expect Gaming and Leisure Properties to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Gaming and Leisure Properties Trading Up 0.5 %

NASDAQ GLPI opened at $51.31 on Thursday. The stock has a market cap of $13.93 billion, a PE ratio of 18.93, a PEG ratio of 5.34 and a beta of 0.99. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The company’s 50-day moving average price is $50.88 and its 200-day moving average price is $47.20. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 5.92%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Transactions at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the sale, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brandon John Moore sold 30,900 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares of the company’s stock, valued at approximately $10,459,298.85. 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 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JMP Securities lifted 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. Wells Fargo & Company reiterated 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 report on Tuesday, October 1st. Wolfe Research raised 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, StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Six investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

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.