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Gaming and Leisure Properties, Inc. (GLPI)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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46.46-0.88 (-1.86%)
At close: 04:00PM EDT
46.56 +0.10 (+0.22%)
After hours: 07:53PM EDT
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  • w
    willingtoteach
    Gaming & Leisure Properties (NASDAQ:GLPI) appears to be a safe bet for investors, according to RBC Capital Markets analyst Brad Heffern.

    He explained that the company’s current valuation suggests a discount to its closest peers, with greater room to grow than many peers. Additionally, the company’s “robust lease protections” should provide downside protection, in his view.

    “We see GLPI's regional gaming cash flows as being highly durable, while above-average acquisition accretion has led to a total return profile towards the top of the net lease group over time,” Heffern told clients. “We see a large universe of remaining acquisition opportunities and think that the current valuation looks compelling versus both the broader group and [VICI Properties] (VICI).”

    He noted that the discount to VICI’s multiple is most glaring.

    “While GLPI's cap rates are higher than both the net lease group and VICI, we see NAV as basically irrelevant in a space with such little competition/market depth,” Heffern wrote. “We think GLPI should trade more off DCF and cash flow quality, and see upside to the current

    valuation when taking that view into account.”

    As such, Heffern assigned a $54 price target to the stock alongside an "Outperform" rating. The stock closed at a price of $48.69 on Friday.
  • J
    James
    Added to my position today
    Buying the dip
    Thanks for the dividend income glpi
    Bullish
  • Y
    Yt09179
    There was no dividend increase. It's the same dividend as the 2nd quarter.
  • c
    carole
    Still waiting for them to declare the next quarterly dividend.
  • A
    Alindallas2000
    So they completed the sale leaseback of the Trop for $148 million at 7% cap rate. In the current interest rate environment, I still view this as. Major missed opportunity.
    Neutral
  • A
    Alindallas2000
    While the increase in our dividend seems nice it is only a 5% increase yoy. In a 9% inflation world, we are losing ground.
  • S
    Shoes
    Going to the Meadows today to win some money!!!
  • R
    Roger
    They own the land under the Tropicana, future Oakland A’s site with betting kiosks maybe slots and small casino on site? They would kill it. Partner up with BALY?
  • P
    Paul
    $DPRO conversation
    These are stocks with years-long histories of keeping up, more recent histories of VALUE ADDITION, and yields high enough to provide a degree of insulation against the current rate of inflation. #TIPRANKS #BUYSTOCKS #INVEST #DPRO #GLPI
    Neutral
  • c
    carole
    When will GLPI declare the next quarterly dividend?
  • J
    James
    Excited for the call tomorrow am
    Should be a positive call
    Stock price is at a all time high
    Happy with my investment in glpi
    Bullish
  • A
    Alindallas2000
    Are we fully valued? At the current pps, GLPI yields a fairly modest (for a REIT) dividend of 5.5%. Hard to see it going up without a meaningful increase in the dividend this time around. Will wait thru ER next week as it doesn't seem likely to go down, but wouldn't be adding to my position at this price.
  • A
    Alindallas2000
    So we hit a new all time high today. Would be nice to hold it thru earnings next week.
  • A
    Alindallas2000
    Market must be expecting a good report in two weeks. On no news we've hit a new high for 2022, moving above the 200 day moving average and getting close to the 2021 high of 51.46 which is the all time high.
  • A
    Alindallas2000
    Decent report but not likely to move the needle either way on the share on the share price. Newly announced transactions with modest cap rates don't portend significant increases in future dividends--especially when combined with very modest rent escalators in existing leases.
  • A
    Alindallas2000
    JPM raised PT to $50, DB to 54 and Jefferies to 56. This is a great long term investment with so many states looking at casino gaming to raise revenue and only two competitors with the industry experience to compete. With a 5.6% current dividend and room to continue to increase it regularly, I can see a total return of 20%/yr for the next several years.
    Bullish
  • A
    Alindallas2000
    While I wouldn't characterize it as a blowout quarter, under the circumstances it was close. They have positioned themselves well to withstand further financial stress from the pandemic. Interest expense is down. Opex is down. Revenues are down marginally. Just a nice solid result. The statement that they reserve the right to pay the dividend entirely in cash in the future. Perhaps a preview of what we may see next week when I expect the Q3 dividend announcement. With their enhanced liquidity they may not feel the same need to save that cash as they did 90 days ago. I'm a happy shareholder.
    Bearish
  • A
    Alindallas2000
    The closing of the acquisition of Live!Pennsylvania from Cordesh and lease back adds $50 million in annual revenue which will be a real positive when they report the Q2 results.
  • Y
    Yt09179
    "Record first quarter financial results" per CEO Carlino.
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