Gaming and Leisure Properties: 3Q Earnings Snapshot

Gaming and Leisure Properties: 3Q Earnings Snapshot
Gaming and Leisure Properties: 3Q Earnings Snapshot

WYOMISSING, Pa. – WYOMISSING, Pa. (AP) _ Gaming and Leisure Properties Inc. (GLPI) on Thursday reported a key measure of profitability in its third quarter.

The Wyomissing, Pennsylvania-based real estate investment trust said it had funds from operations of $164.1 million, or 76 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 $104.8 million, or 49 cents per share.

The real estate investment trust posted revenue of $254.1 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $255 million.

The company's shares have fallen almost 9 percent since the beginning of the year. The stock has dropped slightly more than 7 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on GLPI at https://www.zacks.com/ap/GLPI

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