Q1 2024 EPS Estimates for Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Cut by Analyst

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Investment analysts at Capital One Financial lowered their Q1 2024 earnings per share (EPS) estimates for Gaming and Leisure Properties in a note issued to investors 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.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Royal Bank of Canada lowered their target price on Gaming and Leisure Properties from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $53.00 price objective on shares of Gaming and Leisure Properties in a report on Monday, March 4th. Morgan Stanley decreased their price objective on 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. Finally, Mizuho decreased their price objective on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.09.

Gaming and Leisure Properties Price Performance

Shares of GLPI opened at $42.80 on Monday. Gaming and Leisure Properties has a 1 year low of $41.80 and a 1 year high of $52.45. The company has a debt-to-equity ratio of 1.48, a current ratio of 7.41 and a quick ratio of 7.41. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 5.35 and a beta of 0.94. The business has a 50-day moving average of $45.03 and a 200-day moving average of $45.97.

Institutional Investors Weigh In On Gaming and Leisure Properties

A number of large investors have recently made changes to their positions in the business. Atlas Capital Advisors LLC raised its stake in Gaming and Leisure Properties by 203.0% during the first quarter. Atlas Capital Advisors LLC now owns 512 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 343 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth $30,000. Operose Advisors LLC bought a new stake in shares of Gaming and Leisure Properties in the 3rd quarter worth $32,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth $33,000. Finally, MCF Advisors LLC increased its holdings in shares of Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 600 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.

Insider Transactions at Gaming and Leisure Properties

In related news, Director E Scott Urdang bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the acquisition, the director now directly owns 156,685 shares of the company’s stock, valued at approximately $7,050,825. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

Gaming and Leisure Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.76 dividend. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend was Thursday, March 14th. Gaming and Leisure Properties’s dividend payout ratio is presently 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.