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

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

Gaming and Leisure Properties Trading Up 1.0 %

NASDAQ:GLPI traded up $0.47 on Friday, hitting $49.45. 1,425,795 shares of the stock were exchanged, compared to its average volume of 1,340,047. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 5.71 and a beta of 0.98. The company’s 50-day moving average price is $45.43 and its 200 day moving average price is $45.21. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $49.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced 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). The company had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. On average, equities research analysts forecast that Gaming and Leisure Properties will post 3.66 earnings per share for the current year.

Gaming and Leisure Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.76 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 112.18%.

Analyst Ratings Changes

A number of brokerages have recently commented on GLPI. Royal Bank of Canada upped their price target on Gaming and Leisure Properties from $47.00 to $52.00 and gave the company an outperform rating in a research note on Monday, July 15th. Wedbush reissued an outperform rating and set a $51.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, May 17th. StockNews.com raised Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Friday, July 19th. Wells Fargo & Company lowered their target price on Gaming and Leisure Properties from $49.00 to $48.00 and set an equal weight rating for the company in a research note on Thursday, May 30th. Finally, Stifel Nicolaus upped their price target on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a buy rating in a research report on Friday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $51.41.

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.