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

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

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI traded up $0.74 during trading on Monday, reaching $43.20. The company had a trading volume of 1,344,398 shares, compared to its average volume of 1,411,044. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 5.31 and a beta of 0.94. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.47 and a quick ratio of 6.47. The stock’s fifty day moving average price is $44.82 and its 200 day moving average price is $45.87. Gaming and Leisure Properties has a fifty-two week low of $41.80 and a fifty-two week high of $52.31.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.76 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.04%. 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%.

Insider Activity

In related news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average price 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 in the company, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho decreased their target price on 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. JMP Securities restated a “market outperform” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley decreased their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.91.

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.