Gaming and Leisure Properties (NASDAQ:GLPI) Issues 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush reiterated an outperform rating and issued a $51.00 price target on shares of Gaming and Leisure Properties in a research report on Friday, May 17th. Scotiabank increased their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a sector perform rating in a report on Tuesday, July 16th. Royal Bank of Canada boosted their price target on shares of Gaming and Leisure Properties from $47.00 to $52.00 and gave the company an outperform rating in a report on Monday, July 15th. Stifel Nicolaus raised their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a buy rating in a research note on Friday. Finally, UBS Group lifted their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties presently has a consensus rating of Moderate Buy and an average price target of $51.41.

Gaming and Leisure Properties Stock Up 1.0 %

Shares of NASDAQ GLPI traded up $0.47 during mid-day trading on Friday, hitting $49.45. The company had a trading volume of 1,425,927 shares, compared to its average volume of 1,341,977. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. The firm has a 50-day simple moving average of $45.43 and a two-hundred day simple moving average of $45.20. The company has a market capitalization of $13.43 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 5.82 and a beta of 0.98. Gaming and Leisure Properties has a one year low of $41.80 and a one year high of $49.99.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share 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 52.79% and a return on equity of 17.66%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, equities analysts expect that Gaming and Leisure Properties will post 3.66 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

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.