Gaming and Leisure Properties (NASDAQ:GLPI) Releases Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) issued its earnings results on Thursday. The real estate investment trust reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.37), MarketWatch Earnings reports. The business had revenue of $315.00 million during the quarter, compared to analyst estimates of $303.98 million. Gaming and Leisure Properties had a return on equity of 18.33% and a net margin of 43.91%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS.

NASDAQ GLPI traded down $1.83 during trading on Friday, hitting $44.38. 2,943,990 shares of the company traded hands, compared to its average volume of 1,403,471. Gaming and Leisure Properties has a 12 month low of $41.81 and a 12 month high of $51.46. The business has a fifty day simple moving average of $45.67 and a 200 day simple moving average of $46.19. The company has a current ratio of 5.10, a quick ratio of 5.10 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $10.58 billion, a P/E ratio of 20.17, a PEG ratio of 9.25 and a beta of 1.05.

The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were issued a dividend of $0.69 per share. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend was Thursday, March 10th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 125.45%.

Several brokerages have recently commented on GLPI. Truist Financial raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and decreased their target price for the stock from $57.00 to $51.00 in a research report on Thursday, January 13th. Morgan Stanley cut their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, January 18th. Zacks Investment Research upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday. StockNews.com lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday. Finally, Berenberg Bank started coverage on Gaming and Leisure Properties in a report on Thursday, January 20th. They set a “buy” rating and a $54.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $52.67.

In other Gaming and Leisure Properties news, Director Barry F. Schwartz acquired 2,500 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were acquired at an average cost of $44.77 per share, for a total transaction of $111,925.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brandon John Moore sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $48.21, for a total value of $144,630.00. Following the completion of the transaction, the executive vice president now owns 191,993 shares in the company, valued at $9,255,982.53. The disclosure for this sale can be found here. 5.53% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. bought a new position in shares of Gaming and Leisure Properties in the fourth quarter worth about $86,000. Penserra Capital Management LLC grew its position in Gaming and Leisure Properties by 176.8% during the fourth quarter. Penserra Capital Management LLC now owns 6,115 shares of the real estate investment trust’s stock worth $297,000 after buying an additional 3,906 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Gaming and Leisure Properties during the fourth quarter worth about $452,000. MML Investors Services LLC grew its position in Gaming and Leisure Properties by 9.6% during the fourth quarter. MML Investors Services LLC now owns 10,041 shares of the real estate investment trust’s stock worth $489,000 after buying an additional 882 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its position in Gaming and Leisure Properties by 31.1% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 19,433 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 4,611 shares in the last quarter. Institutional investors and hedge funds own 87.82% of the company’s stock.

About Gaming and Leisure Properties (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.

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

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