Gaming and Leisure Properties (NASDAQ:GLPI) Releases FY 2024 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.710-3.740 for the period, compared to the consensus EPS estimate of 3.790. The company issued revenue guidance of -. Gaming and Leisure Properties also updated its FY24 guidance to $3.71-3.74 EPS.

Gaming and Leisure Properties Trading Down 2.2 %

Shares of Gaming and Leisure Properties stock traded down $0.97 during trading hours on Friday, hitting $42.46. The company’s stock had a trading volume of 1,753,831 shares, compared to its average volume of 1,050,317. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.31. The stock has a 50 day moving average of $44.82 and a 200 day moving average of $45.88. The company has a market capitalization of $11.53 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 5.31 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.76 dividend. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 7.16%. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is 112.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GLPI shares. Mizuho lowered their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a report on Thursday, March 7th. StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a report on Thursday, February 29th. JMP Securities restated a market outperform rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Royal Bank of Canada lowered their price target on Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating for the company in a report on Thursday, February 29th. Finally, Morgan Stanley reduced their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating for the company in a research report on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $52.09.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, with a total value of $112,500.00. Following the completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.