$254.19 Million in Sales Expected for Gaming and Leisure Properties (GLPI) This Quarter

Wall Street brokerages expect Gaming and Leisure Properties (NASDAQ:GLPI) to post sales of $254.19 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Gaming and Leisure Properties’ earnings. The lowest sales estimate is $254.17 million and the highest is $254.20 million. Gaming and Leisure Properties posted sales of $243.39 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.4%. The firm is expected to report its next earnings results on Thursday, July 26th.

On average, analysts expect that Gaming and Leisure Properties will report full year sales of $1.02 billion for the current financial year. For the next financial year, analysts forecast that the firm will report sales of $1.10 billion per share, with estimates ranging from $1.04 billion to $1.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Wednesday, April 25th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.31). Gaming and Leisure Properties had a return on equity of 15.51% and a net margin of 39.42%. The firm had revenue of $244.05 million during the quarter, compared to the consensus estimate of $249.20 million. During the same period last year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Wednesday, May 2nd. Bank of America reduced their target price on Gaming and Leisure Properties from $33.00 to $31.00 and set an “underperform” rating on the stock in a report on Friday, February 9th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Gaming and Leisure Properties in a report on Friday, February 9th. BidaskClub raised Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a report on Thursday, March 15th. Finally, Morgan Stanley reduced their target price on Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.29.

Shares of GLPI stock traded up $0.34 during trading hours on Friday, hitting $34.94. The stock had a trading volume of 860,300 shares, compared to its average volume of 1,254,261. Gaming and Leisure Properties has a one year low of $32.51 and a one year high of $39.32. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.04 and a beta of 0.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $2.52 annualized dividend and a yield of 7.21%. Gaming and Leisure Properties’s dividend payout ratio is currently 80.00%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Arrowstreet Capital Limited Partnership grew its position in Gaming and Leisure Properties by 324.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,927,911 shares of the real estate investment trust’s stock worth $108,333,000 after acquiring an additional 2,238,382 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in Gaming and Leisure Properties in the first quarter worth about $70,287,000. Millennium Management LLC grew its position in Gaming and Leisure Properties by 74.2% in the fourth quarter. Millennium Management LLC now owns 4,692,928 shares of the real estate investment trust’s stock worth $173,638,000 after acquiring an additional 1,998,988 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Gaming and Leisure Properties in the first quarter worth about $49,376,000. Finally, Renaissance Technologies LLC grew its position in Gaming and Leisure Properties by 15.0% in the fourth quarter. Renaissance Technologies LLC now owns 7,666,689 shares of the real estate investment trust’s stock worth $283,667,000 after acquiring an additional 1,000,196 shares in the last quarter. Institutional investors own 88.44% 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.

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

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