Capital One Financial Weighs in on Gaming and Leisure Properties, Inc.’s Q3 2024 Earnings (NASDAQ:GLPI)

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Stock analysts at Capital One Financial lowered their Q3 2024 EPS estimates for Gaming and Leisure Properties in a research report issued on Tuesday, October 8th. Capital One Financial analyst D. Guglielmo now expects that the real estate investment trust will earn $0.91 per share for the quarter, down from their previous estimate of $0.92. 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’ Q4 2024 earnings at $0.94 EPS, Q2 2025 earnings at $0.94 EPS and FY2025 earnings at $3.76 EPS.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The firm had revenue of $380.60 million during the quarter, compared to analysts’ expectations of $377.95 million. Gaming and Leisure Properties had a net margin of 52.79% and a return on equity of 17.60%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS.

GLPI has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company reiterated an “equal weight” rating and set a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Raymond James lifted their price objective on shares of Gaming and Leisure Properties from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Royal Bank of Canada increased their target price on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Wolfe Research raised Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Price Performance

Shares of NASDAQ GLPI opened at $50.43 on Thursday. The firm has a 50-day simple moving average of $50.72 and a 200-day simple moving average of $47.04. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 5.36 and a beta of 0.99. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.49. Gaming and Leisure Properties has a 52 week low of $41.80 and a 52 week high of $52.60.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 dividend on an annualized basis and a yield of 6.03%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 112.18%.

Insider Buying and Selling at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 5,605 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $48.89, for a total transaction of $274,028.45. Following the sale, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Desiree A. Burke sold 12,973 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $52.02, for a total value of $674,855.46. Following the sale, the chief financial officer now directly owns 108,073 shares of the company’s stock, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at $7,660,329.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,478 shares of company stock valued at $2,495,429. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

Several large investors have recently modified their holdings of GLPI. Wellington Management Group LLP raised its position in shares of Gaming and Leisure Properties by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after purchasing an additional 3,684,553 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Gaming and Leisure Properties by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after acquiring an additional 781,906 shares in the last quarter. DigitalBridge Group Inc. purchased a new stake in shares of Gaming and Leisure Properties in the second quarter valued at $16,936,000. Dimensional Fund Advisors LP boosted its stake in shares of Gaming and Leisure Properties by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,104,552 shares of the real estate investment trust’s stock valued at $185,564,000 after acquiring an additional 350,250 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Gaming and Leisure Properties by 126.3% during the 1st quarter. National Bank of Canada FI now owns 454,732 shares of the real estate investment trust’s stock worth $20,131,000 after purchasing an additional 253,763 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

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.