Wedbush Issues Negative Forecast for GLPI Earnings

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Research analysts at Wedbush decreased their Q4 2024 earnings estimates for Gaming and Leisure Properties in a research note issued on Tuesday, November 5th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $0.92 per share for the quarter, down from their previous forecast of $0.93. The consensus estimate for Gaming and Leisure Properties’ current full-year earnings is $3.67 per share.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The business had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share.

Several other analysts have also commented on GLPI. Deutsche Bank Aktiengesellschaft increased their price target on shares of Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of Gaming and Leisure Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. StockNews.com downgraded shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wolfe Research raised shares of Gaming and Leisure Properties from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Friday, August 23rd. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $52.00 price objective (up previously from $51.00) on shares of Gaming and Leisure Properties in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Stock Up 0.8 %

GLPI stock opened at $49.77 on Friday. The company’s 50 day simple moving average is $51.00 and its 200-day simple moving average is $47.95. The firm has a market capitalization of $13.66 billion, a PE ratio of 17.40, a P/E/G ratio of 2.18 and a beta of 0.99. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 11.35 and a quick ratio of 11.35.

Gaming and Leisure Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Friday, September 13th. Gaming and Leisure Properties’s dividend payout ratio is presently 106.29%.

Insider Activity

In other news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director E Scott Urdang sold 5,605 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now owns 156,685 shares of the company’s stock, valued at approximately $7,660,329.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Desiree A. Burke sold 12,973 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $52.02, for a total transaction of $674,855.46. Following the completion of the transaction, the chief financial officer now directly owns 108,073 shares in the company, valued at approximately $5,621,957.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,363 shares of company stock valued at $2,991,951. Company insiders own 4.37% of the company’s stock.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of large investors have recently added to or reduced their stakes in GLPI. Jennison Associates LLC grew its holdings in Gaming and Leisure Properties by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 4,075,461 shares of the real estate investment trust’s stock valued at $209,682,000 after purchasing an additional 821,634 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Gaming and Leisure Properties by 36.7% during the 1st 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 purchasing an additional 781,906 shares in the last quarter. DigitalBridge Group Inc. acquired a new stake in Gaming and Leisure Properties during the 2nd quarter valued at $16,936,000. Dimensional Fund Advisors LP grew its holdings in Gaming and Leisure Properties by 9.3% during the 2nd 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 purchasing an additional 350,250 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Gaming and Leisure Properties by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,534,033 shares of the real estate investment trust’s stock valued at $284,726,000 after purchasing an additional 341,492 shares in the last quarter. 91.14% of the stock is 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.