GLPI Reports Strong Profitability in Q4, Exceeding Expectations
Gaming and Leisure Properties Inc. (GLPI) announced its fourth-quarter results on Thursday, reporting a key profitability metric that beat Wall Street estimates.
The Wyomissing, Pennsylvania-based real estate investment trust (REIT) reported funds from operations (FFO) of $269.7 million, or 95 cents per share, in the quarter. This surpassed the average analyst estimate of 94 cents per share, according to Zacks Investment Research.
FFO, a closely followed metric in the REIT sector, adjusts net income for non-cash expenses such as depreciation and amortization.
Despite the strong FFO performance, GLPI's revenue of $389.6 million missed analysts' expectations of $391.1 million, as per Zacks' survey.
For the full year, GLPI projects FFO in the range of $3.83 to $3.88 per share.