Gaming and Leisure Properties Inc (GLPI) Expected to Post Quarterly Sales of $290.87 Million

Wall Street analysts expect that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will post sales of $290.87 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Gaming and Leisure Properties’ earnings, with estimates ranging from $288.21 million to $300.30 million. Gaming and Leisure Properties posted sales of $244.05 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.2%. The business is expected to announce its next earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that Gaming and Leisure Properties will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $1.16 billion to $1.20 billion. For the next financial year, analysts forecast that the company will post sales of $1.18 billion, with estimates ranging from $1.17 billion to $1.23 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. Gaming and Leisure Properties had a return on equity of 14.42% and a net margin of 32.16%. The firm had revenue of $303.30 million during the quarter, compared to analysts’ expectations of $306.12 million. During the same period last year, the business posted $0.55 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $39.90.

In related news, SVP Matthew Demchyk bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were purchased at an average cost of $36.50 per share, with a total value of $146,000.00. Following the completion of the acquisition, the senior vice president now directly owns 37,500 shares in the company, valued at $1,368,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.88% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Gaming and Leisure Properties by 50.6% during the fourth quarter. Parallel Advisors LLC now owns 905 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 304 shares during the period. We Are One Seven LLC acquired a new stake in Gaming and Leisure Properties in the fourth quarter valued at approximately $31,000. Ffcm LLC grew its holdings in Gaming and Leisure Properties by 72.4% in the fourth quarter. Ffcm LLC now owns 1,141 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 479 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Gaming and Leisure Properties by 43.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,434 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 434 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Gaming and Leisure Properties by 50.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 602 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:GLPI traded up $0.05 during trading on Friday, hitting $36.99. The stock had a trading volume of 1,167,400 shares, compared to its average volume of 1,326,184. Gaming and Leisure Properties has a 12-month low of $31.19 and a 12-month high of $38.28. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.33 and a beta of 0.54. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 2.58.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 7.35%. The ex-dividend date is Thursday, March 7th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 85.53%.

Gaming and Leisure Properties Company Profile

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.

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