Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Declares $0.78 Quarterly Dividend

Key Points

• Gaming and Leisure Properties, Inc. declared a quarterly dividend of $0.78 per share, with payment set for September 26th to shareholders of record on September 12th, representing a 6.5% yield.
• The company has a high dividend payout ratio of 97.4%, suggesting it may struggle to maintain its dividend if earnings decline in the future, although analysts project it will cover future dividends with an expected payout ratio of 76.4% next year.
• In its most recent quarterly report, Gaming and Leisure Properties reported earnings per share of $0.96, which fell slightly short of analyst expectations, despite a year-over-year revenue increase of 3.8% to $394.9 million.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Get Free Report) announced a quarterly dividend on Friday, August 29th, RTT News reports. Investors of record on Friday, September 12th will be paid a dividend of 0.78 per share by the real estate investment trust on Friday, September 26th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, September 12th.

Gaming and Leisure Properties has a dividend payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect Gaming and Leisure Properties to earn $3.98 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 76.4%.

Gaming and Leisure Properties Price Performance

NASDAQ GLPI traded up $0.03 during trading hours on Monday, hitting $48.01. 2,326,360 shares of the company's stock traded hands, compared to its average volume of 1,666,689. Gaming and Leisure Properties has a 52-week low of $44.48 and a 52-week high of $52.60. The company has a market capitalization of $13.59 billion, a PE ratio of 12.57, a PEG ratio of 10.44 and a beta of 0.73. The company has a debt-to-equity ratio of 1.41, a current ratio of 7.39 and a quick ratio of 7.39. The firm's 50-day moving average is $47.02 and its 200-day moving average is $47.81.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). Gaming and Leisure Properties had a net margin of 46.32% and a return on equity of 15.43%. The business had revenue of $394.90 million for the quarter, compared to analysts' expectations of $397.27 million. During the same period in the prior year, the company posted $0.94 EPS. The firm's revenue was up 3.8% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2025 guidance at 3.850-3.87 EPS. Equities analysts forecast that Gaming and Leisure Properties will post 3.81 EPS for the current fiscal year.

Insider Activity at Gaming and Leisure Properties

In other news, Director E Scott Urdang sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $46.58, for a total value of $186,320.00. Following the transaction, the director directly owned 136,953 shares in the company, valued at approximately $6,379,270.74. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.26% of the company's stock.

Hedge Funds Weigh In On Gaming and Leisure Properties

Large investors have recently made changes to their positions in the stock. Alpine Bank Wealth Management acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter worth approximately $26,000. TD Private Client Wealth LLC lifted its holdings in shares of Gaming and Leisure Properties by 64.2% in the 1st quarter. TD Private Client Wealth LLC now owns 545 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 213 shares during the last quarter. Private Trust Co. NA acquired a new position in shares of Gaming and Leisure Properties in the 1st quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $30,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Gaming and Leisure Properties by 1,872.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 651 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 618 shares during the last quarter. 91.14% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.