Gaming and Leisure Properties (NASDAQ:GLPI) Posts Earnings Results, Misses Estimates By $0.09 EPS

Gaming and Leisure Properties (NASDAQ:GLPI) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09), Zacks reports. The business had revenue of $435.45 million during the quarter, compared to analyst estimates of $436.30 million. Gaming and Leisure Properties had a return on equity of 19.17% and a net margin of 59.01%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS.

Gaming and Leisure Properties Trading Up 2.7%

GLPI opened at $39.49 on Friday. The company’s 50 day moving average price is $40.00 and its two-hundred day moving average price is $44.53. Gaming and Leisure Properties has a fifty-two week low of $37.33 and a fifty-two week high of $49.95. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.61 and a beta of 0.65. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.74 and a quick ratio of 4.74.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Friday, September 11th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 96.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLPI. Piper Sandler raised Gaming and Leisure Properties to a “buy” rating in a report on Friday, October 2nd. Raymond James Financial restated an “outperform” rating and set a $47.00 target price on shares of Gaming and Leisure Properties in a report on Thursday, August 13th. Royal Bank Of Canada dropped their price objective on Gaming and Leisure Properties from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. JPMorgan Chase & Co. cut Gaming and Leisure Properties from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Thursday, September 24th. Finally, Scotiabank dropped their price objective on shares of Gaming and Leisure Properties from $49.00 to $43.00 and set a “sector perform” rating on the stock in a report on Thursday, September 24th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.69.

Trending Headlines about Gaming and Leisure Properties

Here are the key news stories impacting Gaming and Leisure Properties this week:

• Positive Sentiment: Funds from operations exceeded expectations. GLPI reported third-quarter FFO of $1.04 per share, above the Zacks consensus estimate of $1.02 and up from $0.97 a year earlier. Gaming and Leisure Properties Q3 FFO Surpass Estimates
• Positive Sentiment: Revenue reached a record and grew 9.5% year over year. Quarterly revenue was $435.45 million, broadly in line with the $436.30 million analyst consensus, while adjusted earnings per share of $1.04 substantially exceeded the reported consensus estimate of $0.80. Gaming and Leisure Properties Reports Record Third Quarter Results
• Positive Sentiment: GLPI is diversifying beyond gaming properties. The company formed a joint venture with Prologis to develop the former Hollywood Casino Joliet site as an Illinois logistics project. The partnership could create a new source of real-estate value and broaden GLPI’s long-term growth opportunities beyond casino assets. Gaming and Leisure Properties Enters Joint Venture with Prologis
• Neutral Sentiment: The overall earnings picture was mixed. GLPI’s 59.01% net margin and 19.17% return on equity remain strong, but revenue was marginally below expectations, making the FFO and EPS beats more important to investors.
• Negative Sentiment: Net income declined despite record revenue. Reports highlighted a retreat in the quarterly bottom line, which could weigh on sentiment even though REIT investors generally focus more heavily on FFO and recurring rental cash flows. Gaming and Leisure Properties Posts Record Q3 Revenue as Net Income Falls

Insider Activity

In related news, Director Earl C. Shanks acquired 10,000 shares of Gaming and Leisure Properties stock in a transaction dated Tuesday, August 18th. The stock was bought at an average price of $42.24 per share, with a total value of $422,400.00. Following the transaction, the director directly owned 107,259 shares in the company, valued at $4,530,620.16. This represents a 10.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 4.11% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI’s portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.