Wedbush Has Negative Forecast for GLPI Q4 Earnings

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) - Equities researchers at Wedbush reduced their Q4 2024 earnings estimates for shares of Gaming and Leisure Properties in a research report 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 prior estimate 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 - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The firm had revenue of $385.34 million during the quarter, compared to the consensus estimate of $385.09 million. Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The business's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on 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. Wolfe Research raised shares of Gaming and Leisure Properties from a "peer perform" rating to an "outperform" rating and set a $57.00 target price on the stock in a research note on Friday, August 23rd. JMP Securities reiterated a "market outperform" rating and issued a $55.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday, October 29th. Stifel Nicolaus raised their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the company a "buy" rating in a report on Friday, July 26th. Finally, UBS Group upped their target price on Gaming and Leisure Properties from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.18.

Gaming and Leisure Properties Price Performance

Shares of GLPI stock traded up $0.38 on Friday, hitting $49.77. 1,055,793 shares of the company's stock were exchanged, compared to its average volume of 1,320,363. The company has a 50 day moving average of $51.04 and a 200 day moving average of $47.90. The stock has a market cap of $13.66 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.18 and a beta of 0.99. 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 has a 12 month low of $41.80 and a 12 month high of $52.60.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Assetmark Inc. raised its holdings in shares of Gaming and Leisure Properties by 2,547.6% in the 3rd quarter. Assetmark Inc. now owns 556 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 535 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Gaming and Leisure Properties by 142.2% in the third quarter. Farther Finance Advisors LLC now owns 654 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 384 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Gaming and Leisure Properties in the second quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 578.4% in the second quarter. EverSource Wealth Advisors LLC now owns 692 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Gaming and Leisure Properties during the second quarter valued at approximately $33,000. 91.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director E Scott Urdang sold 5,605 shares of the company'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 in the company, valued at approximately $7,660,329.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Brandon John Moore sold 30,900 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total value of $1,546,545.00. Following the transaction, the chief operating officer now directly owns 208,977 shares in the company, valued at $10,459,298.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director E Scott Urdang sold 5,605 shares of Gaming and Leisure Properties stock in a transaction on Monday, August 12th. The shares were sold at an average price of $48.89, for a total transaction of $274,028.45. Following the completion of the sale, the director now directly owns 156,685 shares of the company's stock, valued at approximately $7,660,329.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,363 shares of company stock valued at $2,991,951 over the last ninety days. 4.37% of the stock is owned by corporate insiders.

Gaming and Leisure Properties Announces Dividend

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

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.