Brokerages Expect Gaming and Leisure Properties Inc (GLPI) Will Post Quarterly Sales of $304.91 Million

Wall Street analysts forecast that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will announce sales of $304.91 million for the current quarter, Zacks reports. Five analysts have issued estimates for Gaming and Leisure Properties’ earnings. The highest sales estimate is $305.80 million and the lowest is $304.65 million. Gaming and Leisure Properties reported sales of $240.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 26.7%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 14th.

On average, analysts expect that Gaming and Leisure Properties will report full-year sales of $1.06 billion for the current fiscal year. For the next year, analysts forecast that the firm will report sales of $1.27 billion, with estimates ranging from $1.20 billion to $1.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.26). The company had revenue of $254.14 million for the quarter, compared to the consensus estimate of $255.55 million. Gaming and Leisure Properties had a return on equity of 16.10% and a net margin of 38.95%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share.

GLPI has been the subject of several analyst reports. BidaskClub raised Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 21st. SunTrust Banks reaffirmed a “buy” rating and set a $39.00 target price on shares of Gaming and Leisure Properties in a research report on Tuesday, October 2nd. Deutsche Bank raised their target price on Gaming and Leisure Properties from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, October 4th. Finally, Credit Suisse Group initiated coverage on Gaming and Leisure Properties in a research report on Tuesday, August 14th. They set an “outperform” rating and a $41.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Gaming and Leisure Properties currently has an average rating of “Hold” and an average price target of $39.55.

Shares of NASDAQ:GLPI opened at $34.88 on Friday. The firm has a market cap of $7.29 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.26 and a beta of 0.76. The company has a debt-to-equity ratio of 2.31, a current ratio of 10.00 and a quick ratio of 10.00. Gaming and Leisure Properties has a 12-month low of $32.51 and a 12-month high of $37.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.68 dividend. The ex-dividend date is Thursday, December 13th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 7.80%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 80.00%.

In other Gaming and Leisure Properties news, Director David A. Handler acquired 11,000 shares of the stock in a transaction dated Friday, November 9th. The stock was purchased at an average cost of $33.50 per share, with a total value of $368,500.00. Following the transaction, the director now owns 323,461 shares in the company, valued at approximately $10,835,943.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph W. Marshall III acquired 1,000 shares of the stock in a transaction dated Monday, November 19th. The stock was acquired at an average cost of $33.33 per share, with a total value of $33,330.00. Following the completion of the transaction, the director now owns 27,081 shares in the company, valued at approximately $902,609.73. The disclosure for this purchase can be found here. Over the last three months, insiders bought 26,000 shares of company stock valued at $873,910. Corporate insiders own 5.88% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Schroder Investment Management Group raised its position in shares of Gaming and Leisure Properties by 1.4% in the 3rd quarter. Schroder Investment Management Group now owns 112,560 shares of the real estate investment trust’s stock worth $3,968,000 after acquiring an additional 1,548 shares in the last quarter. Signition LP raised its position in shares of Gaming and Leisure Properties by 18.6% in the 3rd quarter. Signition LP now owns 10,686 shares of the real estate investment trust’s stock worth $377,000 after acquiring an additional 1,677 shares in the last quarter. Hilltop Holdings Inc. raised its position in shares of Gaming and Leisure Properties by 28.8% in the 2nd quarter. Hilltop Holdings Inc. now owns 8,073 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 1,803 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Gaming and Leisure Properties by 29.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,099 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 1,821 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of Gaming and Leisure Properties by 20.1% in the 3rd quarter. Baird Financial Group Inc. now owns 12,508 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 2,097 shares during the period. 87.09% of the stock is owned by hedge funds and other institutional investors.

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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