Gaming and Leisure Properties: Q2 Earnings Snapshot

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

The Wyomissing, Pennsylvania-based real estate investment trust said it had funds from operations of $304 million, or $1.03 per share, in the period.

The average estimate of six 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 $228.4 million, or 80 cents per share.

The real estate investment trust, based in Wyomissing, Pennsylvania, posted revenue of $430.5 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $427.7 million.

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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