Gaming and Leisure Properties: 4Q Earnings Snapshot
WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Wednesday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.
The real estate investment trust, based in Wyomissing, Pennsylvania, said it had funds from operations of $181.6 million, or 84 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 84 cents per share.
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 $45.9 million, or 21 cents per share.
The real estate investment trust posted revenue of $303.3 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $304.9 million.
For the year, the company reported funds from operations of $683.6 million, or $3.18 per share. Revenue was reported as $1.06 billion.
For the current quarter ending in April, Gaming and Leisure Properties expects its per-share funds from operations to be 85 cents.
The company said it expects revenue in the range of $288.5 million for the fiscal first quarter.
Gaming and Leisure Properties expects full-year funds from operations in the range of $3.40 to $3.45 per share, with revenue ranging from $1.15 billion to $1.16 billion.
The company’s shares have climbed 17 percent since the beginning of the year. The stock has increased 14 percent in the last 12 months.