Gaming and Leisure Properties (NASDAQ:GLPI) Releases FY24 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.71-3.74 for the period, compared to the consensus earnings per share estimate of $3.74.

Gaming and Leisure Properties Stock Down 0.0 %

Shares of Gaming and Leisure Properties stock traded down $0.02 on Thursday, reaching $43.43. The stock had a trading volume of 1,026,000 shares, compared to its average volume of 1,407,592. The company has a 50 day moving average price of $44.91 and a 200 day moving average price of $45.93. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.31. The stock has a market capitalization of $11.79 billion, a P/E ratio of 15.68, a P/E/G ratio of 5.44 and a beta of 0.94.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.76 dividend. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 7.00%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 109.75%.

Analyst Ratings Changes

GLPI has been the topic of a number of recent analyst reports. JMP Securities restated a market outperform rating and set a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Royal Bank of Canada cut their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a research report on Thursday, February 29th. StockNews.com upgraded Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Thursday, February 29th. Mizuho cut their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating on the stock in a report on Thursday, March 7th. 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 report on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $52.09.

Insider Transactions at Gaming and Leisure Properties

In other news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the purchase, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

About Gaming and Leisure Properties

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.