Wall Street brokerages forecast that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will announce sales of $255.74 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Gaming and Leisure Properties’ earnings. The highest sales estimate is $257.20 million and the lowest is $255.17 million. Gaming and Leisure Properties reported sales of $244.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.6%. The business is expected to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that Gaming and Leisure Properties will report full year sales of $1.02 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.02 billion. For the next year, analysts expect that the company will report sales of $1.11 billion per share, with estimates ranging from $1.01 billion to $1.25 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.34). The firm had revenue of $254.22 million for the quarter, compared to the consensus estimate of $254.40 million. Gaming and Leisure Properties had a return on equity of 15.56% and a net margin of 38.54%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. BidaskClub lowered Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. ValuEngine lowered Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Barclays decreased their target price on Gaming and Leisure Properties from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Finally, Oppenheimer assumed coverage on Gaming and Leisure Properties in a research report on Tuesday, August 14th. They set an “outperform” rating and a $41.00 target price for the company. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $39.00.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Gaming and Leisure Properties by 2.7% during the 2nd quarter. BlackRock Inc. now owns 14,682,501 shares of the real estate investment trust’s stock worth $525,634,000 after buying an additional 388,519 shares during the period. Renaissance Technologies LLC grew its position in shares of Gaming and Leisure Properties by 14.9% in the 2nd quarter. Renaissance Technologies LLC now owns 9,056,089 shares of the real estate investment trust’s stock valued at $324,208,000 after purchasing an additional 1,174,600 shares during the period. FMR LLC grew its position in shares of Gaming and Leisure Properties by 20.3% in the 2nd quarter. FMR LLC now owns 5,365,666 shares of the real estate investment trust’s stock valued at $192,091,000 after purchasing an additional 905,752 shares during the period. Millennium Management LLC grew its position in shares of Gaming and Leisure Properties by 23.3% in the 2nd quarter. Millennium Management LLC now owns 3,084,735 shares of the real estate investment trust’s stock valued at $110,434,000 after purchasing an additional 582,081 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Gaming and Leisure Properties by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,996,233 shares of the real estate investment trust’s stock valued at $107,266,000 after purchasing an additional 47,572 shares during the period. Institutional investors own 87.21% of the company’s stock.

Shares of NASDAQ:GLPI opened at $34.66 on Friday. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.05 and a beta of 0.77. Gaming and Leisure Properties has a 1-year low of $32.51 and a 1-year high of $37.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.60 and a quick ratio of 2.60.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $2.52 annualized dividend and a dividend yield of 7.27%. Gaming and Leisure Properties’s payout ratio is currently 80.00%.

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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Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

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