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 guidance of $3.71-3.74 for the period, compared to the consensus earnings per share estimate of $3.74.

Gaming and Leisure Properties Price Performance

GLPI stock traded down $0.02 on Thursday, reaching $43.43. The company had a trading volume of 1,026,000 shares, compared to its average volume of 1,407,592. The company’s fifty day moving average is $44.91 and its 200 day moving average is $45.93. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.31. The company has a market cap of $11.79 billion, a P/E ratio of 15.68, a PEG ratio of 5.44 and a beta of 0.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.76 dividend. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s payout ratio is currently 109.75%.

Wall Street Analyst Weigh In

GLPI has been the topic of several recent analyst reports. Mizuho cut their price target on shares of 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. 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 set a $53.00 price objective on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Royal Bank of Canada dropped their target price on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. Finally, Morgan Stanley dropped their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research 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, the stock currently has a consensus rating of Moderate Buy and an average target price of $52.09.

Insider Buying and Selling

In related news, Director E Scott Urdang acquired 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were 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 owns 156,685 shares of the company’s stock, valued at $7,050,825. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.