Wall Street brokerages expect Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) to post $301.63 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Gaming and Leisure Properties’ earnings, with the lowest sales estimate coming in at $294.31 million and the highest estimate coming in at $307.30 million. Gaming and Leisure Properties reported sales of $283.48 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The business is scheduled to issue its next earnings report on Thursday, April 29th.
According to Zacks, analysts expect that Gaming and Leisure Properties will report full year sales of $1.20 billion for the current year, with estimates ranging from $1.13 billion to $1.23 billion. For the next year, analysts forecast that the company will report sales of $1.21 billion, with estimates ranging from $1.07 billion to $1.28 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Gaming and Leisure Properties.
Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Wednesday, February 17th. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). Gaming and Leisure Properties had a return on equity of 21.46% and a net margin of 39.46%.
Several analysts have weighed in on GLPI shares. LADENBURG THALM/SH SH boosted their target price on shares of Gaming and Leisure Properties from $31.50 to $47.50 in a research report on Friday, December 11th. Stifel Nicolaus lifted their price objective on shares of Gaming and Leisure Properties from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Jefferies Financial Group upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $50.00 in a research note on Monday, November 2nd. Morgan Stanley lifted their price objective on shares of Gaming and Leisure Properties from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, January 20th. Finally, Zacks Investment Research cut shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $43.42.
In other Gaming and Leisure Properties news, EVP Brandon John Moore sold 7,839 shares of the company’s stock in a transaction on Tuesday, January 5th. The shares were sold at an average price of $40.58, for a total transaction of $318,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew Demchyk sold 13,562 shares of the company’s stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $42.73, for a total transaction of $579,504.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,692 shares of company stock valued at $2,429,413. Company insiders own 5.83% of the company’s stock.
Large investors have recently bought and sold shares of the business. Perigon Wealth Management LLC acquired a new position in Gaming and Leisure Properties during the fourth quarter worth $34,000. Penbrook Management LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $36,000. Private Capital Group LLC grew its holdings in shares of Gaming and Leisure Properties by 123.6% during the fourth quarter. Private Capital Group LLC now owns 863 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 477 shares in the last quarter. TD Ameritrade Investment Management LLC purchased a new stake in shares of Gaming and Leisure Properties during the fourth quarter worth $52,000. Finally, CI Investments Inc. purchased a new stake in shares of Gaming and Leisure Properties during the third quarter worth $90,000. Institutional investors own 83.78% of the company’s stock.
NASDAQ:GLPI traded down $0.26 during trading hours on Monday, hitting $43.11. 1,460,924 shares of the company were exchanged, compared to its average volume of 1,129,801. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 20.73 and a beta of 1.06. Gaming and Leisure Properties has a 52-week low of $12.78 and a 52-week high of $49.99. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50 day moving average price is $41.87 and its 200-day moving average price is $39.95.
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.
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