Gaming and Leisure Properties (NASDAQ:GLPI) Announces Quarterly Earnings Results

Gaming and Leisure Properties (NASDAQ:GLPI) announced its quarterly earnings data on Friday. The real estate investment trust reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26), Yahoo Finance reports. The company had revenue of $376.00 million for the quarter, compared to analyst estimates of $368.44 million. Gaming and Leisure Properties had a net margin of 50.05% and a return on equity of 16.79%. Gaming and Leisure Properties’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ GLPI traded up $0.74 during mid-day trading on Monday, hitting $43.20. The company had a trading volume of 1,344,398 shares, compared to its average volume of 1,411,044. The stock’s 50-day moving average price is $44.78 and its 200-day moving average price is $45.84. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 5.31 and a beta of 0.94. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.31.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.76 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Analysts Set New Price Targets

GLPI has been the subject of several recent research reports. JMP Securities restated a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Royal Bank of Canada dropped their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday. Mizuho decreased their target price on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley decreased their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.91.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.