Gaming and Leisure Properties: Overview of Fourth Quarter Results
Gaming and Leisure Properties Inc. (GLPI) announced a key measure of its fourth quarter profitability on Thursday. The results missed Wall Street expectations.
The Wyomissing, Pa.-based real estate investment trust said it had operating funds of $205.3 million, or 85 cents per share, during the period.
The average estimate of six analysts polled by Zacks Investment Research was for funds from operations 88 cents per share.
Funds from operations is a closely watched metric in the REIT industry. It takes net income and adds items such as depreciation and amortization.
The company said it had net income of $119.6 million, or 50 cents per share.
The real estate investment trust posted revenue of $298.3 million during the period, beating Street’s forecast. Seven analysts polled by Zacks expected $294.8 million.
For the year, the company reported funds from operations of $812 million, or $3.44 per share. Revenue was reported at $1.22 billion.
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