Gaming and Leisure Properties Inc (NASDAQ:GLPI) Expected to Post Quarterly Sales of $291.49 Million

Brokerages forecast that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will report $291.49 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Gaming and Leisure Properties’ earnings, with the highest sales estimate coming in at $299.00 million and the lowest estimate coming in at $285.80 million. Gaming and Leisure Properties reported sales of $287.86 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, May 4th.

According to Zacks, analysts expect that Gaming and Leisure Properties will report full year sales of $1.19 billion for the current fiscal year, with estimates ranging from $1.19 billion to $1.20 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.21 billion, with estimates ranging from $1.20 billion to $1.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Gaming and Leisure Properties.

Several research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Gaming and Leisure Properties from $52.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. TheStreet downgraded Gaming and Leisure Properties from a “b-” rating to a “c+” rating in a research note on Tuesday, March 31st. BidaskClub downgraded Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. ValuEngine downgraded Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, Zacks Investment Research raised Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, March 20th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.38.

In other news, SVP Brandon John Moore sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the transaction, the senior vice president now owns 139,535 shares of the company’s stock, valued at approximately $6,558,145. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Earl C. Shanks acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average cost of $14.80 per share, with a total value of $148,000.00. In the last ninety days, insiders have bought 27,500 shares of company stock valued at $761,300 and have sold 15,000 shares valued at $705,000. Corporate insiders own 6.05% of the company’s stock.

Large investors have recently modified their holdings of the company. Heritage Wealth Advisors purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth about $28,000. BBVA USA Bancshares Inc. purchased a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth about $35,000. Parallel Advisors LLC grew its holdings in shares of Gaming and Leisure Properties by 48.2% during the 4th quarter. Parallel Advisors LLC now owns 969 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 315 shares during the period. Evoke Wealth LLC purchased a new stake in shares of Gaming and Leisure Properties during the 3rd quarter worth about $47,000. Finally, Huntington National Bank grew its holdings in shares of Gaming and Leisure Properties by 76.0% during the 4th quarter. Huntington National Bank now owns 1,264 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 546 shares during the period. Institutional investors and hedge funds own 88.27% of the company’s stock.

Shares of NASDAQ:GLPI traded down $0.96 during midday trading on Tuesday, hitting $24.72. 2,851,986 shares of the stock were exchanged, compared to its average volume of 1,996,388. The stock has a market cap of $5.52 billion, a P/E ratio of 13.66, a PEG ratio of 0.41 and a beta of 1.04. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 2.85. Gaming and Leisure Properties has a twelve month low of $13.04 and a twelve month high of $50.99. The company has a 50 day moving average price of $34.79 and a 200-day moving average price of $40.52.

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 11.33%. The ex-dividend date was Thursday, March 5th. Gaming and Leisure Properties’s payout ratio is 81.40%.

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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