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

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

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

Gaming and Leisure Properties Stock Down 2.2 %

NASDAQ GLPI traded down $0.97 during trading on Friday, reaching $42.46. 1,753,831 shares of the company’s stock were exchanged, compared to its average volume of 1,050,317. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.31. The firm has a market capitalization of $11.53 billion, a PE ratio of 15.67, a P/E/G ratio of 5.31 and a beta of 0.94. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The company’s fifty day simple moving average is $44.82 and its 200-day simple moving average is $45.88.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a yield of 7.16%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insiders Place Their Bets

In other Gaming and Leisure Properties news, Director E Scott Urdang acquired 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following 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. Corporate insiders own 4.40% of the company’s stock.

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.