Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Expected to Post Quarterly Sales of $300.23 Million

Brokerages expect Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) to announce $300.23 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Gaming and Leisure Properties’ earnings, with estimates ranging from $278.93 million to $321.90 million. Gaming and Leisure Properties posted sales of $301.54 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The firm is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Gaming and Leisure Properties will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.12 billion to $1.31 billion. For the next financial year, analysts expect that the firm will post sales of $1.26 billion, with estimates ranging from $1.11 billion to $1.34 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.36). The company had revenue of $298.34 million for the quarter, compared to analyst estimates of $295.10 million. Gaming and Leisure Properties had a return on equity of 18.33% and a net margin of 43.91%. Gaming and Leisure Properties’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share.

A number of research analysts have issued reports on the stock. Scotiabank lowered shares of Gaming and Leisure Properties from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, December 15th. Morgan Stanley dropped 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 report on Tuesday, January 18th. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Monday, March 7th. Mizuho dropped their price target on shares of Gaming and Leisure Properties from $56.00 to $47.00 in a research report on Thursday, January 20th. Finally, Berenberg Bank started coverage on shares of Gaming and Leisure Properties in a research report on Thursday, January 20th. They set a “buy” rating and a $54.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $52.43.

NASDAQ GLPI opened at $46.57 on Thursday. Gaming and Leisure Properties has a one year low of $41.81 and a one year high of $51.46. The company has a 50-day simple moving average of $45.17 and a 200-day simple moving average of $46.29. The company has a debt-to-equity ratio of 1.95, a quick ratio of 5.10 and a current ratio of 5.10. The firm has a market capitalization of $11.10 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 9.52 and a beta of 1.05.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.93%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, March 10th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 122.12%.

In other news, EVP Brandon John Moore sold 5,000 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $45.04, for a total transaction of $225,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barry F. Schwartz purchased 2,500 shares of the stock in a transaction dated Monday, March 14th. The shares were acquired at an average price of $44.77 per share, with a total value of $111,925.00. The disclosure for this purchase can be found here. Company insiders own 5.53% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new position in Gaming and Leisure Properties in the third quarter valued at approximately $42,000. New York State Teachers Retirement System lifted its stake in Gaming and Leisure Properties by 105.5% in the third quarter. New York State Teachers Retirement System now owns 18,700 shares of the real estate investment trust’s stock valued at $866,000 after buying an additional 9,600 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Gaming and Leisure Properties by 2.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 381,788 shares of the real estate investment trust’s stock valued at $17,684,000 after buying an additional 8,216 shares in the last quarter. Greenwood Capital Associates LLC lifted its stake in Gaming and Leisure Properties by 45.6% in the third quarter. Greenwood Capital Associates LLC now owns 14,324 shares of the real estate investment trust’s stock valued at $663,000 after buying an additional 4,483 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its stake in Gaming and Leisure Properties by 48.9% in the third quarter. WINTON GROUP Ltd now owns 22,262 shares of the real estate investment trust’s stock valued at $1,031,000 after buying an additional 7,313 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile (Get Rating)

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.

Featured Stories

Get a free copy of the Zacks research report on Gaming and Leisure Properties (GLPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Expected to Post Quarterly Sales of $300.23 Million

Wall Street analysts expect Gaming and Leisure Properties, Inc. (NASDAQ:GLPIGet Rating) to report sales of $300.23 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Gaming and Leisure Properties’ earnings. The highest sales estimate is $321.90 million and the lowest is $278.93 million. Gaming and Leisure Properties reported sales of $301.54 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.4%. The firm is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Gaming and Leisure Properties will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.31 billion. For the next year, analysts anticipate that the firm will report sales of $1.26 billion, with estimates ranging from $1.11 billion to $1.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.36). The business had revenue of $298.34 million for the quarter, compared to the consensus estimate of $295.10 million. Gaming and Leisure Properties had a net margin of 43.91% and a return on equity of 18.33%. Gaming and Leisure Properties’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS.

A number of research analysts have recently issued reports on GLPI shares. Truist Financial upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and reduced their price objective for the company from $57.00 to $51.00 in a report on Thursday, January 13th. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a report on Monday, March 7th. Morgan Stanley cut 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 report on Tuesday, January 18th. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Saturday, April 9th. Finally, Berenberg Bank began coverage on shares of Gaming and Leisure Properties in a report on Thursday, January 20th. They set a “buy” rating and a $54.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Gaming and Leisure Properties has a consensus rating of “Buy” and an average target price of $52.43.

In other Gaming and Leisure Properties news, Director Barry F. Schwartz acquired 2,500 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was bought at an average price of $44.77 per share, with a total value of $111,925.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brandon John Moore sold 5,000 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $45.04, for a total transaction of $225,200.00. The disclosure for this sale can be found here. 5.53% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in GLPI. MV Capital Management Inc. bought a new stake in Gaming and Leisure Properties during the 3rd quarter valued at $26,000. National Bank of Canada FI bought a new stake in Gaming and Leisure Properties during the 4th quarter valued at $34,000. O Shaughnessy Asset Management LLC raised its holdings in Gaming and Leisure Properties by 118.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 762 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 413 shares in the last quarter. Covestor Ltd bought a new position in Gaming and Leisure Properties in the 4th quarter worth $43,000. Finally, Spire Wealth Management bought a new position in Gaming and Leisure Properties in the 3rd quarter worth $42,000. 87.82% of the stock is owned by institutional investors.

Shares of NASDAQ GLPI opened at $46.57 on Thursday. Gaming and Leisure Properties has a twelve month low of $41.81 and a twelve month high of $51.46. The firm has a fifty day simple moving average of $45.17 and a 200 day simple moving average of $46.29. The company has a market capitalization of $11.10 billion, a PE ratio of 20.61, a P/E/G ratio of 9.52 and a beta of 1.05. The company has a quick ratio of 5.10, a current ratio of 5.10 and a debt-to-equity ratio of 1.95.

The business also recently declared a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend was Thursday, March 10th. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.67. Gaming and Leisure Properties’s payout ratio is currently 122.12%.

Gaming and Leisure Properties Company Profile (Get Rating)

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.

See Also

Get a free copy of the Zacks research report on Gaming and Leisure Properties (GLPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.