Equities Analysts Issue Forecasts for Gaming and Leisure Properties, Inc.’s Q1 2024 Earnings (NASDAQ:GLPI)

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Analysts at Capital One Financial reduced their Q1 2024 earnings per share estimates for shares of Gaming and Leisure Properties in a research report issued to clients and investors on Wednesday, April 17th. Capital One Financial analyst D. Guglielmo now expects that the real estate investment trust will earn $0.90 per share for the quarter, down from their prior estimate of $0.91. The consensus estimate for Gaming and Leisure Properties’ current full-year earnings is $3.67 per share. Capital One Financial also issued estimates for Gaming and Leisure Properties’ Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $0.94 EPS, FY2024 earnings at $3.66 EPS and FY2025 earnings at $3.72 EPS.

A number of other brokerages have also recently issued reports on GLPI. 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 report on Thursday, February 29th. 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 report on Thursday, March 7th. 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 report on Thursday, March 21st. JMP Securities reiterated a “market outperform” rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Finally, StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.09.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $43.54 on Monday. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.31. The business’s fifty day moving average is $44.95 and its 200 day moving average is $45.94. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. The stock has a market cap of $11.82 billion, a P/E ratio of 15.72, a P/E/G ratio of 5.34 and a beta of 0.94.

Institutional Investors Weigh In On Gaming and Leisure Properties

Several large investors have recently made changes to their positions in GLPI. Headlands Technologies LLC purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at $30,000. Operose Advisors LLC purchased a new stake in shares of Gaming and Leisure Properties during the 3rd quarter valued at $32,000. EdgeRock Capital LLC purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter valued at $33,000. MCF Advisors LLC increased its position in shares of Gaming and Leisure Properties by 416.7% during the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 600 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Gaming and Leisure Properties during the 1st quarter valued at $42,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gaming and Leisure Properties

In other Gaming and Leisure Properties news, Director E Scott Urdang bought 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $45.00 per share, with a total value of $112,500.00. Following the transaction, 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 the SEC website. 4.40% of the stock is currently owned by insiders.

Gaming and Leisure Properties Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 109.75%.

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.