Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45, MarketWatch Earnings reports. Gaming and Leisure Properties had a return on equity of 17.14% and a net margin of 38.99%. The business had revenue of $244.50 million during the quarter, compared to the consensus estimate of $243.66 million. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Gaming and Leisure Properties updated its Q4 guidance to $0.56 EPS.
Shares of Gaming and Leisure Properties (NASDAQ GLPI) traded up 0.28% during mid-day trading on Friday, hitting $36.17. The stock had a trading volume of 1,035,054 shares. Gaming and Leisure Properties has a one year low of $29.32 and a one year high of $39.32. The firm has a 50 day moving average of $37.06 and a 200-day moving average of $36.89. The stock has a market cap of $7.69 billion, a P/E ratio of 20.29 and a beta of 0.87.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.52 annualized dividend and a dividend yield of 6.97%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 141.57%.
GLPI has been the subject of several recent analyst reports. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. SunTrust Banks, Inc. restated a “hold” rating and issued a $38.00 price target on shares of Gaming and Leisure Properties in a research note on Tuesday. Stifel Nicolaus restated a “hold” rating and issued a $39.00 price target on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. Finally, Barclays PLC upped their price target on Gaming and Leisure Properties from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.67.
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About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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