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

Gaming and Leisure Properties (NASDAQ:GLPI) is set to issue its quarterly earnings data 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.Parties that wish to listen to the company’s 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 (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm had revenue of $380.60 million during the quarter, compared to analyst estimates of $377.95 million. During the same quarter in the previous year, the firm earned $0.92 EPS. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. 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 Stock Performance

Shares of Gaming and Leisure Properties stock opened at $50.81 on Wednesday. The business has a 50-day moving average price of $50.99 and a two-hundred day moving average price of $47.34. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.60. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.49. The company has a market cap of $13.79 billion, a P/E ratio of 18.75, a PEG ratio of 5.34 and a beta of 0.99.

Gaming and Leisure Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 5.98%. Gaming and Leisure Properties’s dividend payout ratio is currently 112.18%.

Wall Street Analyst Weigh In

GLPI has been the topic of a number of research analyst reports. Wells Fargo & Company restated an “equal weight” rating and set a $52.00 price target (up from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Raymond James raised their price target on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. JMP Securities upped their price objective on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company a “market outperform” rating in a report on Monday, August 12th. Wolfe Research upgraded Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Friday, August 23rd. Finally, Royal Bank of Canada upped their price target on Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Activity at Gaming and Leisure Properties

In related news, Director E Scott Urdang sold 5,605 shares of the firm’s 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 directly owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 156,685 shares in the company, valued at $7,660,329.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at $5,621,957.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,478 shares of company stock valued at $2,495,429. 4.40% of the stock is owned by insiders.

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.