Wedbush Equities Analysts Cut Earnings Estimates for GLPI

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) – Equities researchers at Wedbush reduced their Q4 2024 earnings estimates for Gaming and Leisure Properties in a research report issued on Tuesday, November 5th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $0.92 per share for the quarter, down from their previous estimate of $0.93. The consensus estimate for Gaming and Leisure Properties’ current full-year earnings is $3.67 per share.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $52.00 price target (up previously from $51.00) on shares of Gaming and Leisure Properties in a report on Tuesday, October 1st. Scotiabank boosted their price target on Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price target on Gaming and Leisure Properties from $47.00 to $48.00 and gave the company a “hold” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com cut Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.18.

Gaming and Leisure Properties Stock Performance

Shares of NASDAQ:GLPI opened at $49.39 on Friday. The business has a 50-day moving average of $51.04 and a two-hundred day moving average of $47.90. The firm has a market capitalization of $13.55 billion, a PE ratio of 17.27, a P/E/G 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.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $385.34 million for the quarter, compared to analyst estimates of $385.09 million. Gaming and Leisure Properties had a return on equity of 17.31% and a net margin of 51.93%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share.

Institutional Trading of Gaming and Leisure Properties

Several hedge funds have recently added to or reduced their stakes in GLPI. Assetmark Inc. grew its position in Gaming and Leisure Properties by 2,547.6% during 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. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties in the second quarter worth approximately $31,000. EdgeRock Capital LLC bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth $33,000. Versant Capital Management Inc increased its position in shares of Gaming and Leisure Properties by 18,500.0% during the second quarter. Versant Capital Management Inc now owns 744 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 740 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in 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 acquiring an additional 384 shares during the period. 91.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Gaming and Leisure Properties

In related news, COO Brandon John Moore sold 30,900 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.05, for a total transaction of $1,546,545.00. Following the completion of the sale, the chief operating officer now directly owns 208,977 shares of the company’s stock, valued at $10,459,298.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Brandon John Moore sold 30,900 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.05, for a total value of $1,546,545.00. Following the completion of the transaction, the chief operating officer now owns 208,977 shares in the company, valued at $10,459,298.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director E Scott Urdang sold 5,605 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $48.89, for a total value of $274,028.45. Following the transaction, the director now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,363 shares of company stock valued at $2,991,951 in the last 90 days. 4.37% of the stock is currently owned by company insiders.

Gaming and Leisure Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 6.16%. Gaming and Leisure Properties’s dividend payout ratio is 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.