Gaming and Leisure Properties (NASDAQ:GLPI) Announces Quarterly Earnings Results

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

Gaming and Leisure Properties Trading Up 1.7 %

NASDAQ:GLPI traded up $0.74 during mid-day trading on Monday, hitting $43.20. 1,344,398 shares of the company’s stock were exchanged, compared to its average volume of 1,411,044. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.31. The company has a 50 day simple moving average of $44.78 and a 200-day simple moving average of $45.84. The firm has a market capitalization 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 firm 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. 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. This represents a $3.04 annualized dividend and a yield of 7.04%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 112.18%.

Insiders Place Their Bets

In other news, Director E Scott Urdang purchased 2,500 shares of the 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 acquisition, the director now owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho decreased their target price 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. Royal Bank of Canada decreased their target price on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday. JMP Securities restated a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Morgan Stanley reduced 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. Finally, StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.91.

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.