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Considering that the majority, if not all, tenants are gaming operators, this study delves extensively into the gambling market, while also dedicating attention to real estate assets.
Considering that the majority, if not all, tenants are gaming operators, this study delves extensively into the gambling market, while also dedicating attention to real estate assets.
== Latest Updates ==
==== Current REIT performance: via NAREIT ====
''(As of '''25/08/2023''' - 4:09PM or 09:09PM EST)'' <blockquote>The REIT-focused FTSE Nareit U.S. Real Estate Index Series tracks the performance of the U.S. REIT industry at both an industry-wide level and on a sector-by-sector basis. The FTSE EPRA/Nareit Global Real Estate Index represents the performance of real estate equities worldwide. The performance of both indexes are reported on a real-time basis<ref>NAREIT, Real-Time Index Returns. Retrieved via: https://www.reit.com/data-research/reit-indexes/real-time-index-returns</ref></blockquote>''Please note that the referenced data will updated daily on the NAREIT site, these figures are accurate at the time of the report. For up-to-date figures, please visit:'' [https://www.reit.com/data-research/reit-indexes/real-time-index-returns NAREIT Real-Time Index Returns (REIT)]
{| class="wikitable"
|+
!'''FTSE NAREIT U.S. REAL ESTATE INDEX'''
!% Change
!Value
!Time (EST)
|-
|All REITs
|0.19
|$200.26
|04:09 PM
|-
|Composite
|0.18
|$196.03
|04:09 PM
|-
|All Equity REITs
|0.17
|$693.27
|04:09 PM
|-
|Industrial
|0.67
|$519.58
|04:09 PM
|-
|Office
| -0.80
|$179.25
|04:09 PM
|-
|Retail
| -0.20
|$219.94
|04:09 PM
|-
|Shopping Centers
| -0.07
|$175.80
|04:09 PM
|-
|Regional Malls
|0.01
|$233.25
|04:09 PM
|-
|Free Standing
| -0.44
|$359.73
|04:09 PM
|-
|Residential
|0.33
|$483.44
|04:09 PM
|-
|Apartments
|0.50
|$431.48
|04:09 PM
|-
|Manufactured Homes
| -0.29
|$583.35
|04:09 PM
|-
|Diversified
| -0.34
|$97.21
|04:09 PM
|-
|Lodging/Resorts
| -1.26
|$67.69
|04:09 PM
|-
|Health Care
|0.14
|$218.54
|04:09 PM
|-
|Self Storage
|0.69
|$1658.69
|04:09 PM
|-
|Timber
| -0.31
|$166.23
|04:09 PM
|-
|Infrastructure
|0.34
|$244.83
|04:09 PM
|-
|Equity REITs
|0.16
|$656.59
|09:03 PM
|-
|Real Estate 50
|0.23
|$316.55
|04:09 PM
|-
|Mortgage REITs
|0.37
|$2.71
|04:09 PM
|-
|Home Financing
|0.52
|$23.13
|04:09 PM
|-
|Commercial Financing
|0.25
|$16.00
|04:09 PM
|-
|FTSE RAFI US 100 Real Estate Index
| -0.09
|$4395.60
|09:09 PM
|-
|Data Centers
|0.09
|$1387.43
|04:09 PM
|-
|Specialty
|0.64
|$872.23
|04:09 PM
|-
|'''Gaming & Leisure'''
|'''0.43'''
|'''$671.03'''
|'''04:09 PM'''
|}
==== Other changes to portfolios, leases or deals: ====
* None as of yet (EOD, 25/08/2023)


== Executive Summary ==
== Executive Summary ==
Line 3,319: Line 3,167:
|}
|}


==== <u>Stock performance history</u> ====
==== '''<u>Stock performance history</u>''' ====
{{NASDAQ|GLPI: https://www.nasdaq.com/market-activity/stocks/glpi}}
{{NASDAQ|GLPI: https://www.nasdaq.com/market-activity/stocks/glpi}}
{| class="wikitable"
{| class="wikitable"
Line 3,342: Line 3,190:
|}
|}


==== <u>Dividends history</u> ====
==== '''<u>Dividends history</u>''' ====
GLPI's dividends history are as follows:<ref>Gaming & Leisure Properties (2023) ''Stock Information, Dividends Splits. Retrieved from:'' https://investors.glpropinc.com/stock-information/dividends-splits</ref>
GLPI's dividends history are as follows:<ref>Gaming & Leisure Properties (2023) ''Stock Information, Dividends Splits. Retrieved from:'' https://investors.glpropinc.com/stock-information/dividends-splits</ref>
{| class="wikitable"
{| class="wikitable"
Line 3,727: Line 3,575:
== Competitor Analysis (VICI) ==
== Competitor Analysis (VICI) ==


Analysis of GLPI and VICI's Financials, both from Q2 2023 results:
(in $, and 000s - unless per share or ratio)
{| class="wikitable"
|+
!Item
!GLPI
!VICI
|-
|Total Revenue
|356,600
|898,158
|-
|Income from Operations
|238,300
|897,814
|-
|Net Income
|160,100
|690,702
|-
|FFO
|225,400
|690,702
|-
|AFFO
|250,400
|540,407
|-
|Adjusted EBITDA
|324,500
|723,414
|-
|Net income, per diluted common share
|$0.59
|$0.69
|-
|FFO per diluted share
|$0.83
|$0.69
|-
|AFFO per diluted share
|$0.92
|$0.54
|-
|<u>''Ratios''</u>
|
|
|-
|Current Ratio
|0.03
|1.14
|-
|EV to Assets Ratio
|1.66
|1.12
|-
|Interest Coverage Ratio
|3.36
|4.23
|-
|Price to FCF Ratio
|40.94
|20.21
|-
|Debt to Equity Ratio
|1.68
|0.73
|-
|EV to sales Ratio
|13.26
|14.38
|-
|PB Value
|3.21
|1.3
|-
|PS Ratio
|8.71
|9.33
|-
|Earnings Yield
|6.25%
|6.97%
|-
|PE Ratio
|15.86
|14.06
|-
|EV to EBIT Ratio
|17.78
|16.53
|-
|EV to EBITDA Ratio
|14.3
|16.51
|-
|FCF Yield
|2.45%
|4.95%
|-
|PEG Ratio
|1.92
|0.12
|-
|Dividend Yield (As of 25/08/2023)
|6.28%
|5.11%
|}


Ratios are from Finance Charts<ref>FinanceCharts. ''VICI Properties vs Gaming and Leisure Properties''. Retrieved via: https://www.financecharts.com/compare/VICI,GLPI</ref> - Income Statement and Balance sheet data are as of June 30th 2023 (Q2 2023).<ref>VICI Properties. ''Form 10-Q. Retrieved via:'' https://s1.q4cdn.com/751481880/files/doc_financials/2023/q2/VICI-Q2-2023-10-Q.pdf</ref>
== References ==
== References ==
__INDEX__
__INDEX__
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