Wall Street brokerages expect that Gaming and Leisure Properties, Inc. (NASDAQ:GLPI – Get Rating) will report sales of $321.79 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Gaming and Leisure Properties’ earnings, with the lowest sales estimate coming in at $295.97 million and the highest estimate coming in at $330.89 million. Gaming and Leisure Properties posted sales of $317.76 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Gaming and Leisure Properties will report full-year sales of $1.28 billion for the current fiscal year, with estimates ranging from $1.19 billion to $1.31 billion. For the next year, analysts forecast that the company will post sales of $1.31 billion, with estimates ranging from $1.21 billion to $1.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Gaming and Leisure Properties.
Gaming and Leisure Properties (NASDAQ:GLPI – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.37). Gaming and Leisure Properties had a return on equity of 16.86% and a net margin of 42.79%. The business had revenue of $315.00 million for the quarter, compared to analyst estimates of $303.98 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue was up 4.5% compared to the same quarter last year.
Shares of Gaming and Leisure Properties stock opened at $45.60 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.91. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 3.20 and a beta of 1.03. The business has a fifty day simple moving average of $45.45 and a 200-day simple moving average of $45.59. Gaming and Leisure Properties has a fifty-two week low of $41.81 and a fifty-two week high of $51.46.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be paid a $0.705 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $2.82 dividend on an annualized basis and a yield of 6.18%. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.69. Gaming and Leisure Properties’s payout ratio is 125.45%.
In related news, Director Barry F. Schwartz purchased 2,500 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was bought at an average price of $44.77 per share, for a total transaction of $111,925.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brandon John Moore sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $48.21, for a total value of $144,630.00. Following the sale, the executive vice president now owns 191,993 shares of the company’s stock, valued at approximately $9,255,982.53. The disclosure for this sale can be found here. Insiders own 5.53% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Gaming and Leisure Properties by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 34,218,955 shares of the real estate investment trust’s stock valued at $1,605,894,000 after purchasing an additional 1,199,697 shares during the period. BlackRock Inc. raised its holdings in Gaming and Leisure Properties by 3.1% in the 1st quarter. BlackRock Inc. now owns 16,323,748 shares of the real estate investment trust’s stock valued at $766,072,000 after acquiring an additional 488,130 shares in the last quarter. Wellington Management Group LLP raised its holdings in Gaming and Leisure Properties by 13.6% in the 1st quarter. Wellington Management Group LLP now owns 10,515,906 shares of the real estate investment trust’s stock valued at $493,511,000 after acquiring an additional 1,255,222 shares in the last quarter. Bamco Inc. NY raised its holdings in Gaming and Leisure Properties by 0.7% in the 3rd quarter. Bamco Inc. NY now owns 8,894,012 shares of the real estate investment trust’s stock valued at $411,971,000 after acquiring an additional 60,569 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in Gaming and Leisure Properties by 0.3% in the 3rd quarter. Putnam Investments LLC now owns 8,238,636 shares of the real estate investment trust’s stock valued at $381,614,000 after acquiring an additional 24,387 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.
About Gaming and Leisure Properties (Get Rating)
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.
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