Gaming and Leisure Properties: 4Q Earnings Snapshot
WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Thursday 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 $188.6 million, or 87 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 87 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 $114.3 million, or 53 cents per share.
The real estate investment trust posted revenue of $289 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $288 million.
For the year, the company reported funds from operations of $743.2 million, or $3.44 per share. Revenue was reported as $1.15 billion.
For the current quarter ending in April, Gaming and Leisure Properties expects its per-share funds from operations to be 87 cents.
The company said it expects revenue in the range of $292.8 million for the fiscal first quarter.
Gaming and Leisure Properties expects full-year funds from operations in the range of $3.49 to $3.52 per share, with revenue ranging from $1.19 billion to $1.2 billion.
The company's shares have climbed 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $49.74, an increase of 36% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLPI at https://www.zacks.com/ap/GLPI
