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

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Research analysts at Capital One Financial dropped their Q1 2024 EPS estimates for Gaming and Leisure Properties in a research report issued on Wednesday, April 17th. Capital One Financial analyst D. Guglielmo now forecasts that the real estate investment trust will post earnings per share of $0.90 for the quarter, down from their prior forecast 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 analysts also recently issued reports on the stock. Royal Bank of Canada lowered 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. StockNews.com upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Morgan Stanley lowered their target price on shares of 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. Finally, Mizuho lowered their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI opened at $43.54 on Monday. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.48. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $52.31. The company has a market capitalization of $11.82 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 5.34 and a beta of 0.94. The firm’s 50 day moving average is $44.95 and its 200-day moving average is $45.94.

Institutional Investors Weigh In On Gaming and Leisure Properties

Institutional investors have recently modified their holdings of the business. GraniteShares Advisors LLC bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $1,473,000. International Assets Investment Management LLC bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $2,501,000. Pacer Advisors Inc. boosted its position in shares of Gaming and Leisure Properties by 107.4% in the fourth quarter. Pacer Advisors Inc. now owns 45,803 shares of the real estate investment trust’s stock valued at $2,260,000 after acquiring an additional 23,722 shares during the period. Signature Wealth Management Group bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $3,944,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Gaming and Leisure Properties in the fourth quarter valued at about $3,701,000. Institutional investors own 91.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director E Scott Urdang acquired 2,500 shares of Gaming and Leisure Properties stock in a transaction on 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 completion of the transaction, the director now directly owns 156,685 shares in the company, valued at approximately $7,050,825. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.98%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s payout ratio 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.