Wedbush Issues Negative Outlook for GLPI Earnings

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

Several other research firms also recently issued reports on GLPI. Scotiabank boosted their price objective on 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. UBS Group raised 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 research note on Tuesday, July 16th. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Royal Bank of Canada raised their price target on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus upped their price objective on 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Gaming and Leisure Properties Stock Up 0.7 %

Gaming and Leisure Properties stock opened at $49.39 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 11.35 and a current ratio of 11.35. The firm has a 50 day moving average price of $51.04 and a 200 day moving average price of $47.90. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The company has a market capitalization of $13.55 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.18 and a beta of 0.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $385.34 million during the quarter, compared to analysts’ expectations of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its stake in Gaming and Leisure Properties by 147.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 172,850 shares of the real estate investment trust’s stock valued at $8,893,000 after acquiring an additional 102,858 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Gaming and Leisure Properties by 0.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 219,312 shares of the real estate investment trust’s stock worth $11,284,000 after purchasing an additional 1,326 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Gaming and Leisure Properties by 37.3% in the third quarter. Natixis Advisors LLC now owns 30,089 shares of the real estate investment trust’s stock valued at $1,548,000 after buying an additional 8,178 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Gaming and Leisure Properties by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 7,948 shares of the real estate investment trust’s stock valued at $409,000 after acquiring an additional 278 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Gaming and Leisure Properties by 162.8% during the 3rd quarter. KBC Group NV now owns 97,643 shares of the real estate investment trust’s stock worth $5,024,000 after purchasing an additional 60,489 shares during the period. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Desiree A. Burke sold 12,973 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the transaction, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Gaming and Leisure Properties news, Director E Scott Urdang sold 5,605 shares of the firm’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 completion of the sale, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now owns 108,073 shares of the company’s stock, valued at $5,621,957.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,363 shares of company stock valued at $2,991,951. Insiders own 4.37% of the company’s stock.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.16%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%.

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.