Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) to Post Q1 2024 Earnings of $0.90 Per Share, Capital One Financial Forecasts

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Analysts at Capital One Financial decreased their Q1 2024 EPS estimates for Gaming and Leisure Properties in a research note issued on Wednesday, April 17th. Capital One Financial analyst D. Guglielmo now expects that the real estate investment trust will post earnings per share of $0.90 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.

Other analysts also recently issued reports about the company. JMP Securities reissued a “market outperform” rating and issued a $53.00 price objective on shares of Gaming and Leisure Properties in a research note on Monday, March 4th. Royal Bank of Canada cut their price objective on shares of 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. Morgan Stanley lowered their target price on shares of Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Finally, Mizuho reduced their price objective on shares of Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties currently has an average rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Stock Performance

Shares of GLPI stock opened at $42.98 on Monday. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.48. The firm has a fifty day simple moving average of $44.97 and a two-hundred day simple moving average of $45.96. Gaming and Leisure Properties has a 12 month low of $41.80 and a 12 month high of $52.31. The firm has a market capitalization of $11.67 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 5.34 and a beta of 0.94.

Hedge Funds Weigh In On Gaming and Leisure Properties

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. Vanguard Group Inc. raised its position in Gaming and Leisure Properties by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 37,572,599 shares of the real estate investment trust’s stock worth $1,711,432,000 after purchasing an additional 555,332 shares during the period. Wellington Management Group LLP increased its holdings in shares of Gaming and Leisure Properties by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 12,709,300 shares of the real estate investment trust’s stock worth $627,204,000 after buying an additional 3,684,553 shares during the period. Putnam Investments LLC lifted its stake in shares of Gaming and Leisure Properties by 3.1% in the 4th quarter. Putnam Investments LLC now owns 9,511,521 shares of the real estate investment trust’s stock valued at $469,394,000 after acquiring an additional 282,828 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Gaming and Leisure Properties by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,921,163 shares of the real estate investment trust’s stock valued at $440,259,000 after acquiring an additional 150,055 shares during the period. Finally, FMR LLC grew its position in Gaming and Leisure Properties by 5.6% during the 3rd quarter. FMR LLC now owns 6,436,482 shares of the real estate investment trust’s stock worth $293,182,000 after acquiring an additional 340,784 shares during the last quarter. 91.14% of the stock is currently 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 purchased 2,500 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $45.00 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 156,685 shares in the company, valued at approximately $7,050,825. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date was Thursday, March 14th. This is an increase from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 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.