Gaming and Leisure Properties (NASDAQ:GLPI) Updates FY 2024 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.710-3.740 for the period, compared to the consensus EPS estimate of 3.790. The company issued revenue guidance of -. Gaming and Leisure Properties also updated its FY24 guidance to $3.71-3.74 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GLPI shares. Royal Bank of Canada reduced their price objective on Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating for the company in a research note on Thursday, February 29th. JMP Securities reissued a market outperform rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a neutral rating for the company in a research note on Thursday, March 7th. StockNews.com upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating in a research report on Thursday, February 29th. Finally, Morgan Stanley reduced 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $52.09.

Gaming and Leisure Properties Stock Down 0.0 %

Shares of NASDAQ:GLPI traded down $0.02 during midday trading on Thursday, hitting $43.43. 1,026,000 shares of the stock were exchanged, compared to its average volume of 1,407,592. The company has a market capitalization of $11.79 billion, a PE ratio of 15.68, a P/E/G ratio of 5.44 and a beta of 0.94. Gaming and Leisure Properties has a 52-week low of $41.80 and a 52-week high of $52.31. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.41 and a current ratio of 7.41. The business’s fifty day simple moving average is $44.91 and its two-hundred day simple moving average is $45.93.

Gaming and Leisure Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.00%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 109.75%.

Insider Activity

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $45.00 per share, with a total value of $112,500.00. Following the completion of the transaction, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The purchase was disclosed in a document filed with the SEC, which is available through this link. 4.40% of the stock is owned by corporate insiders.

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.