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

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

Several equities analysts recently issued reports on the company. StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Thursday, February 29th. JMP Securities reiterated a market outperform rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Mizuho reduced 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 note on Thursday, March 7th. Royal Bank of Canada dropped their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. Finally, Morgan Stanley cut their price target on shares of 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Gaming and Leisure Properties currently has an average rating of Moderate Buy and an average price target of $52.09.

Gaming and Leisure Properties Trading Down 2.2 %

GLPI traded down $0.97 during midday trading on Friday, hitting $42.46. The company’s stock had a trading volume of 1,753,831 shares, compared to its average volume of 1,050,317. The firm has a market cap of $11.53 billion, a P/E ratio of 15.67, a PEG ratio of 5.31 and a beta of 0.94. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.31. 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 firm has a 50-day moving average price of $44.82 and a two-hundred day moving average price of $45.88.

Gaming and Leisure Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.16%. 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. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Insider Buying and Selling

In other news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.