Gaming and Leisure PropertiesNASDAQ: GLPI

The ICSC conference in Las Vegas is described as the "Super Bowl of retail" and attracts industry experts and dealmakers. I'm here this week meeting with REIT management teams. Today, I'll provide details on three REITs that are investing in casino properties.

Gaming and Leisure Properties (GLPI) reported quarterly funds from operations (FFO) of $0.92 per share, falling short of the Zacks Consensus Estimate of $0.93 per share. This is slightly lower than the FFO of $0.92 per share in the same quarter last year.

WYOMISSING, Pa., April 08, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) announced today that the Company will release its 2024 first quarter financial results after the market close on Thursday, April 25, 2024. The Company will host a conference call at 10:00 a.m. ET on Friday, April 26, 2024.

The spread between REIT cap rates and the 10-year Treasury is 142 basis points narrower than usual. Despite this, GLPI is able to maintain a healthy investment spread. Looking at their recent acquisitions, GLPI is able to command an 8.18% cap rate while it only costs them 6.89% to fund acquisitions. The 1.29% difference between 8.18% and 6.89% is available to investors at a discount.

Gaming and Leisure Properties, Inc. (GLPI) Q4 2023 Earnings Call Transcript

Gaming and Leisure Properties (GLPI) came out with quarterly funds from operations (FFO) of $0.93 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.89 per share a year ago.

WYOMISSING, Pa., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) announced today that the Company will release its 2023 fourth quarter financial results after the market close on Tuesday, February 27, 2024. The Company will host a conference call at 10:00 a.m. ET on Wednesday, February 28, 2024.

Gaming and Leisure Properties (GLPI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Despite inflationary pressures, GLPI reports positive financials, including a revenue increase of 7.72%. The company can make an annual distribution of $3.15 per share, which represents a dividend yield of 7.03%. After comparing the forward P/FFO of 11.64x with the sector median of 11.56x, we can say that the company is fairly valued at current valuation.