Wedbush Has Pessimistic Outlook of GLPI Q4 Earnings

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Stock analysts at Wedbush cut their Q4 2024 earnings estimates for Gaming and Leisure Properties in a research note issued to investors on Tuesday, November 5th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings of $0.92 per share for the quarter, down from their prior estimate of $0.93. The consensus estimate for Gaming and Leisure Properties’ current full-year earnings is $3.67 per share.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly 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 17.31% and a net margin of 51.93%. The firm had revenue of $385.34 million for the quarter, compared to analysts’ expectations of $385.09 million. During the same period last year, the firm earned $0.92 EPS. Gaming and Leisure Properties’s revenue was up 7.2% compared to the same quarter last year.

Several other research firms have also commented on GLPI. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Wolfe Research upgraded 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. UBS Group increased their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Scotiabank upped their price objective on Gaming and Leisure Properties from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Gaming and Leisure Properties Stock Up 0.8 %

Gaming and Leisure Properties stock opened at $49.77 on Friday. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 2.11 and a beta of 0.99. The stock’s fifty day moving average is $51.00 and its two-hundred day moving average is $47.98. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35.

Gaming and Leisure Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 6.11%. Gaming and Leisure Properties’s payout ratio is 106.29%.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. 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. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction that occurred on 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 directly owns 156,685 shares in the company, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,363 shares of company stock valued at $2,991,951. Insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

Large investors have recently made changes to their positions in the business. Assetmark Inc. increased its holdings in Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 535 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Gaming and Leisure Properties by 142.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 384 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Gaming and Leisure Properties in the 2nd quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its position in Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in shares of Gaming and Leisure Properties during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.14% of the company’s stock.

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.