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

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

Gaming and Leisure Properties Price Performance

Shares of GLPI traded up $0.74 during trading hours on Monday, hitting $43.20. 1,344,398 shares of the stock were exchanged, compared to its average volume of 1,411,044. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.31. 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 stock’s 50-day moving average price is $44.78 and its two-hundred day moving average price is $45.84. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 5.31 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho cut 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 report on Thursday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Morgan Stanley lowered 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. StockNews.com raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada cut 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 report on Monday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.91.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, with a total value of $112,500.00. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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.