Gaming and Leisure Properties (NASDAQ:GLPI) Releases Earnings Results, Beats Estimates By $0.24 EPS

Key Points

• GLPI beat earnings expectations: The REIT reported quarterly EPS of $1.04, exceeding the $0.80 analyst consensus by $0.24. Revenue reached a record $435.45 million but narrowly missed estimates of $436.30 million.
• Income appeal remains high: GLPI paid a quarterly dividend of $0.82 per share, equivalent to $3.28 annually and an 8.3% yield, though its payout ratio was elevated at 96.19%.
• Shares rose after the report, but analyst views are mixed: GLPI traded near $39.49, while analysts maintained a “Moderate Buy” consensus and an average price target of $47.69 despite several recent target-price cuts.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) released its quarterly earnings results on Thursday. The real estate investment trust reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.24, Zacks reports. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The company had revenue of $435.45 million for the quarter, compared to analyst estimates of $436.30 million.

Gaming and Leisure Properties Stock Performance

GLPI stock traded up $1.04 on Thursday, reaching $39.49. 2,134,545 shares of the company were exchanged, compared to its average volume of 2,602,895. The firm has a market capitalization of $11.49 billion, a PE ratio of 11.58, a PEG ratio of 1.65 and a beta of 0.65. Gaming and Leisure Properties has a 12 month low of $37.33 and a 12 month high of $49.95. The stock's fifty day moving average price is $40.07 and its 200 day moving average price is $44.55. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.74 and a quick ratio of 4.74.

Gaming and Leisure Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.28 dividend on an annualized basis and a yield of 8.3%. Gaming and Leisure Properties's payout ratio is 96.19%.

Trending Headlines about Gaming and Leisure Properties

Here are the key news stories impacting Gaming and Leisure Properties this week:

• Positive Sentiment: Adjusted earnings exceeded expectations. GLPI reported third-quarter EPS of $1.04, well above the analyst consensus of $0.80. The company also reported record quarterly revenue of approximately $435.5 million, supporting the stock’s positive reaction. GLPI Third-Quarter Press Release
• Positive Sentiment: GLPI is expanding beyond gaming real estate. The REIT formed a joint venture with Prologis to develop the former Hollywood Casino Joliet site into an Illinois logistics park. The deal provides potential diversification and creates an opportunity to generate value from a former casino property through industrial real estate. GLPI Prologis Joint Venture Announcement
• Neutral Sentiment: Revenue narrowly missed forecasts. Quarterly revenue of $435.45 million was slightly below analysts’ estimate of $436.30 million, although the shortfall was modest and revenue still reached a company record.
• Negative Sentiment: Bottom-line profit declined. Reports highlighted a year-over-year retreat in third-quarter net income, which tempers the impact of the strong EPS beat. Investors may continue to monitor whether earnings growth is being driven by recurring property income or by nonrecurring items. GLPI Third-Quarter Net Income Report

Insiders Place Their Bets

In related news, Director Earl C. Shanks acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $42.24 per share, with a total value of $422,400.00. Following the completion of the transaction, the director owned 107,259 shares of the company's stock, valued at approximately $4,530,620.16. This represents a 10.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLPI. Citizens Jmp lowered their target price on shares of Gaming and Leisure Properties from $55.00 to $49.00 and set a "market outperform" rating on the stock in a research note on Friday, October 2nd. Wells Fargo & Company cut their target price on shares of Gaming and Leisure Properties from $43.00 to $40.00 and set an "equal weight" rating for the company in a research report on Monday, October 19th. Citigroup restated a "market outperform" rating on shares of Gaming and Leisure Properties in a report on Friday, October 2nd. Morgan Stanley lowered their price target on Gaming and Leisure Properties from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 17th. Finally, Weiss Ratings downgraded Gaming and Leisure Properties from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.

About Gaming and Leisure Properties

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust that owns and leases gaming and entertainment properties. The company primarily operates as a landlord, generating rental income through long-term agreements with casino operators rather than directly managing most of the gaming facilities located on its properties.

GLPI's portfolio includes casinos, resorts, racetracks and related entertainment facilities across the United States. Its leases are generally structured as triple-net agreements, under which tenants are typically responsible for property-level expenses such as maintenance, insurance and real estate taxes.

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