Gaming and Leisure Properties (NASDAQ:GLPI) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS

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

Gaming and Leisure Properties Price Performance

GLPI traded up $0.74 on Monday, reaching $43.20. The company had a trading volume of 1,344,398 shares, compared to its average volume of 1,411,044. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.31. The company has a market cap 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 debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The business has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $45.84.

Gaming and Leisure Properties Increases Dividend

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

Insiders Place Their Bets

In other news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 156,685 shares of the company’s stock, valued at $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.

Analysts Set New Price Targets

Several analysts have issued reports on GLPI shares. Royal Bank of Canada lowered their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday. Morgan Stanley dropped their price target on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. StockNews.com raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a 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’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus target price 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.