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

Gaming and Leisure Properties (NASDAQ:GLPI) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Gaming and Leisure Properties Stock Performance

Shares of Gaming and Leisure Properties stock traded down $0.02 on Thursday, reaching $43.43. 1,026,000 shares of the stock were exchanged, compared to its average volume of 1,407,592. 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 market capitalization of $11.79 billion, a PE ratio of 15.68, a PEG ratio of 5.44 and a beta of 0.94. Gaming and Leisure Properties has a 1-year low of $41.80 and a 1-year high of $52.31. The business has a fifty day moving average price of $44.91 and a two-hundred day moving average price of $45.93.

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 dividend of $0.76 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Thursday, March 14th. This represents a $3.04 annualized dividend and a yield of 7.00%. Gaming and Leisure Properties’s payout ratio is presently 109.75%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GLPI shares. Royal Bank of Canada dropped their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a report on Thursday, February 29th. Mizuho cut their price target on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a report on Thursday, March 7th. Morgan Stanley decreased their price objective on shares of 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. 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 reissued a market outperform rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. 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 data from MarketBeat.com, Gaming and Leisure Properties presently has an average rating of Moderate Buy and a consensus target price of $52.09.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, Director E Scott Urdang purchased 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the completion of the acquisition, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.

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.