Gaming and Leisure Properties (NASDAQ:GLPI) Updates FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLPI. StockNews.com raised shares of Gaming and Leisure Properties from a hold rating to a buy rating in a report on Thursday, February 29th. Mizuho decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating on the stock in a research report on Thursday, March 7th. Royal Bank of Canada decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Morgan Stanley decreased their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research report on Thursday, March 21st. Finally, JMP Securities reaffirmed a market outperform rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $52.09.

Gaming and Leisure Properties Stock Down 2.2 %

Shares of GLPI traded down $0.97 during mid-day trading on Friday, hitting $42.46. 1,753,831 shares of the company’s stock were exchanged, compared to its average volume of 1,050,317. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 5.43 and a beta of 0.94. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.31. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. The stock’s 50-day moving average is $44.82 and its 200-day moving average is $45.88.

Gaming and Leisure Properties Increases Dividend

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

Insider Transactions at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction dated Friday, March 1st. The shares were acquired at an average price 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 $7,050,825. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.