Gaming and Leisure Properties (NASDAQ:GLPI) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.28), MarketWatch Earnings reports. Gaming and Leisure Properties had a return on equity of 20.06% and a net margin of 36.90%. The company had revenue of $261.97 million for the quarter, compared to the consensus estimate of $259.53 million.
Shares of NASDAQ GLPI traded up $0.85 during trading on Friday, reaching $36.21. 1,211,325 shares of the stock traded hands, compared to its average volume of 805,237. 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 3.20, a current ratio of 9.92 and a quick ratio of 9.92. The company has a 50-day moving average of $35.20 and a 200-day moving average of $35.66. The stock has a market capitalization of $7.79 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99.
Several research analysts have weighed in on GLPI shares. BidaskClub cut Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 9th. SunTrust Banks cut their price objective on Gaming and Leisure Properties from $56.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Wolfe Research started coverage on Gaming and Leisure Properties in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $46.00 price objective on the stock. Deutsche Bank reissued a “buy” rating and issued a $40.00 price objective on shares of Gaming and Leisure Properties in a research report on Friday. Finally, TheStreet raised Gaming and Leisure Properties from a “c” rating to a “b-” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $39.84.
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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