Gaming and Leisure Properties: 2Q Earnings Snapshot
WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Wednesday reported a key measure of profitability in its second quarter.
The Wyomissing, Pennsylvania-based real estate investment trust said it had funds from operations of $169.2 million, or 79 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $92 million, or 43 cents per share.
The real estate investment trust posted revenue of $254.2 million in the period, which matched Street forecasts.
For the current quarter ending in October, Gaming and Leisure Properties said it expects revenue in the range of $255.2 million.
The company expects full-year revenue of $1.02 billion.
The company’s shares have fallen roughly 2 percent since the beginning of the year. The stock has fallen slightly more than 4 percent in the last 12 months.