Gaming and Leisure Properties (NASDAQ:GLPI) Announces Earnings Results, Misses Expectations By $0.26 EPS

Gaming and Leisure Properties (NASDAQ:GLPI) issued its quarterly earnings results on Friday. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26), Yahoo Finance reports. The company had revenue of $376.00 million during the quarter, compared to the consensus estimate of $368.44 million. Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share.

Gaming and Leisure Properties Price Performance

Shares of Gaming and Leisure Properties stock traded up $0.74 on Monday, reaching $43.20. The company’s stock had a trading volume of 1,344,398 shares, compared to its average volume of 1,411,044. The company has a market capitalization of $11.73 billion, a P/E ratio of 15.94, a PEG ratio of 5.31 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 stock has a 50-day moving average price of $44.78 and a 200-day moving average price of $45.84. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 1.49.

Gaming and Leisure Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.76 dividend. 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 yield of 7.04%. Gaming and Leisure Properties’s payout ratio is presently 112.18%.

Insider Activity

In related news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction on Friday, March 1st. The stock was bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the acquisition, the director now directly owns 156,685 shares in the company, valued at $7,050,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLPI. JMP Securities restated a “market outperform” rating and issued a $53.00 price target on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Royal Bank of Canada cut their target price on Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Morgan Stanley cut 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 note on Thursday, March 21st. Finally, Mizuho cut their target price on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.91.

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.