Gaming and Leisure Properties (NASDAQ:GLPI) Issues Earnings Results

Gaming and Leisure Properties (NASDAQ:GLPI) released its earnings results on Friday. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26), Yahoo Finance reports. The business had revenue of $376.00 million during 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%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock traded up $0.74 during midday trading on Monday, hitting $43.20. 1,344,398 shares of the company were exchanged, compared to its average volume of 1,411,044. The firm has a 50 day simple moving average of $44.78 and a 200-day simple moving average of $45.84. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.31. The firm has a market cap of $11.73 billion, a P/E ratio of 15.94, a PEG ratio of 5.31 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 7.04%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

GLPI has been the topic of several recent research reports. Morgan Stanley decreased their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Mizuho decreased their price objective 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. JMP Securities reissued 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 decreased their price objective on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday. Finally, StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. 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 a consensus rating of “Moderate Buy” and an average price target of $51.91.

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.