Gaming and Leisure Properties: Q3 Earnings Snapshot

WYOMISSING, Pa. (AP) — WYOMISSING, Pa. (AP) — Gaming and Leisure Properties Inc. (GLPI) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Wyomissing, Pennsylvania, said it had funds from operations of $311.7 million, or $1.04 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 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 $207.6 million, or 71 cents per share.

The real estate investment trust, based in Wyomissing, Pennsylvania, posted revenue of $435.4 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $436.1 million.

Gaming and Leisure Properties expects full-year funds from operations in the range of $4.11 to $4.12 per share.

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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