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

Gaming and Leisure Properties (NASDAQ:GLPI) issued an update on its FY24 earnings guidance on Thursday morning. 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 also updated its FY 2024 guidance to 3.710-3.740 EPS.

Gaming and Leisure Properties Stock Down 2.2 %

Shares of NASDAQ:GLPI traded down $0.97 during midday trading on Friday, reaching $42.46. 1,753,831 shares of the company were exchanged, compared to its average volume of 1,050,317. The firm has a market cap of $11.53 billion, a PE ratio of 15.67, a P/E/G ratio of 5.43 and a beta of 0.94. 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 fifty-two week low of $41.80 and a fifty-two week high of $52.31. The stock has a fifty day simple moving average of $44.87 and a two-hundred day simple moving average of $45.91.

Gaming and Leisure Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio is presently 112.18%.

Wall Street Analysts Forecast Growth

GLPI has been the topic of a number of recent analyst reports. Mizuho decreased their target price 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. JMP Securities restated a market outperform rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Royal Bank of Canada decreased their price target on shares of Gaming and Leisure Properties from $50.00 to $49.00 and set an outperform rating on the stock in a research note on Thursday, February 29th. 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 decreased their target price on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research 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. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $52.09.

Insider Buying and Selling

In other news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

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.