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Gaming and Leisure Properties

Nasdaq:GLPI
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GLPI
Nasdaq
$9B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. The last earnings update was 21 days ago. More info.


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GLPI Share Price and Events
7 Day Returns
-0.9%
NasdaqGS:GLPI
1.4%
US REITs
0.5%
US Market
1 Year Returns
27.1%
NasdaqGS:GLPI
15.7%
US REITs
16.1%
US Market
GLPI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gaming and Leisure Properties (GLPI) -0.9% 7.9% 10.8% 27.1% 38% 32.4%
US REITs 1.4% -2.3% 1.9% 15.7% 22.8% 23.5%
US Market 0.5% 3.9% 6.6% 16.1% 37.7% 43.7%
1 Year Return vs Industry and Market
  • GLPI outperformed the REITs industry which returned 15.7% over the past year.
  • GLPI outperformed the Market in United States of America which returned 16.1% over the past year.
Price Volatility
GLPI
Industry
5yr Volatility vs Market

Value

 Is Gaming and Leisure Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Gaming and Leisure Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Gaming and Leisure Properties.

NasdaqGS:GLPI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:GLPI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.468 (1 + (1- 21%) (65.65%))
0.806
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.806 * 5.96%)
7.53%

Discounted Cash Flow Calculation for NasdaqGS:GLPI using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

NasdaqGS:GLPI Discount to Share Price
Calculation Result
Value per share (USD) From above. $71.45
Current discount Discount to share price of $42.22
= -1 x ($42.22 - $71.45) / $71.45
40.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Gaming and Leisure Properties is available for.
Intrinsic value
41%
Share price is $42.22 vs Future cash flow value of $71.45
Current Discount Checks
For Gaming and Leisure Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gaming and Leisure Properties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Gaming and Leisure Properties's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Gaming and Leisure Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gaming and Leisure Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:GLPI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $1.50
NasdaqGS:GLPI Share Price ** NasdaqGS (2019-11-21) in USD $42.22
United States of America REITs Industry PE Ratio Median Figure of 144 Publicly-Listed REITs Companies 38.55x
United States of America Market PE Ratio Median Figure of 2,917 Publicly-Listed Companies 18.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Gaming and Leisure Properties.

NasdaqGS:GLPI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:GLPI Share Price ÷ EPS (both in USD)

= 42.22 ÷ 1.50

28.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gaming and Leisure Properties is good value based on earnings compared to the US REITs industry average.
  • Gaming and Leisure Properties is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Gaming and Leisure Properties's expected growth come at a high price?
Raw Data
NasdaqGS:GLPI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
10.6%per year
United States of America REITs Industry PEG Ratio Median Figure of 133 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,043 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

NasdaqGS:GLPI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.12x ÷ 10.6%

2.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gaming and Leisure Properties is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Gaming and Leisure Properties's assets?
Raw Data
NasdaqGS:GLPI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $9.81
NasdaqGS:GLPI Share Price * NasdaqGS (2019-11-21) in USD $42.22
United States of America REITs Industry PB Ratio Median Figure of 183 Publicly-Listed REITs Companies 1.97x
United States of America Market PB Ratio Median Figure of 5,089 Publicly-Listed Companies 1.75x
NasdaqGS:GLPI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:GLPI Share Price ÷ Book Value per Share (both in USD)

= 42.22 ÷ 9.81

4.3x

* Primary Listing of Gaming and Leisure Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gaming and Leisure Properties is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Gaming and Leisure Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Gaming and Leisure Properties has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Gaming and Leisure Properties expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gaming and Leisure Properties expected to grow at an attractive rate?
  • Gaming and Leisure Properties's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Gaming and Leisure Properties's earnings growth is positive but not above the United States of America market average.
  • Gaming and Leisure Properties's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:GLPI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:GLPI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 10.6%
NasdaqGS:GLPI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 0.6%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:GLPI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:GLPI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,167 762 465 11
2020-12-31 1,165 747 453 12
2019-12-31 1,153 764 389 12
2019-11-22
NasdaqGS:GLPI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 1,168 720 322
2019-06-30 1,134 713 336
2019-03-31 1,100 690 335
2018-12-31 1,056 654 339
2018-09-30 993 628 386
2018-06-30 983 612 378
2018-03-31 973 600 383
2017-12-31 971 599 380
2017-09-30 969 598 380
2017-06-30 958 596 373
2017-03-31 922 595 350
2016-12-31 828 514 289

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gaming and Leisure Properties's earnings are expected to grow by 10.6% yearly, however this is not considered high growth (20% yearly).
  • Gaming and Leisure Properties's revenue is expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:GLPI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Gaming and Leisure Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:GLPI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.13 2.25 1.93 5.00
2020-12-31 2.07 2.17 1.88 6.00
2019-12-31 1.81 1.81 1.80 5.00
2019-11-22
NasdaqGS:GLPI Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 1.50
2019-06-30 1.57
2019-03-31 1.57
2018-12-31 1.59
2018-09-30 1.81
2018-06-30 1.78
2018-03-31 1.80
2017-12-31 1.80
2017-09-30 1.82
2017-06-30 1.79
2017-03-31 1.74
2016-12-31 1.62

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Gaming and Leisure Properties is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Gaming and Leisure Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Gaming and Leisure Properties has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Gaming and Leisure Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Gaming and Leisure Properties's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Gaming and Leisure Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • Gaming and Leisure Properties's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Gaming and Leisure Properties's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Gaming and Leisure Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Gaming and Leisure Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:GLPI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,167.81 322.04 63.12
2019-06-30 1,134.33 336.29 63.09
2019-03-31 1,099.54 335.28 71.91
2018-12-31 1,055.73 339.04 71.13
2018-09-30 993.11 386.28 73.59
2018-06-30 983.47 378.47 73.71
2018-03-31 972.64 382.77 63.56
2017-12-31 971.31 379.98 63.15
2017-09-30 969.41 380.38 52.21
2017-06-30 958.18 372.94 58.91
2017-03-31 922.15 349.84 66.52
2016-12-31 828.26 288.64 71.37
2016-09-30 718.15 224.78 86.11
2016-06-30 632.66 168.46 83.58
2016-03-31 575.17 127.24 85.04
2015-12-31 575.05 127.61 82.86
2015-09-30 591.44 128.03 87.17
2015-06-30 590.56 132.08 85.63
2015-03-31 591.46 137.05 81.43
2014-12-31 591.07 138.23 80.84
2014-09-30 553.09 112.40 84.16
2014-06-30 445.81 77.91 71.97
2014-03-31 341.12 45.76 58.26
2013-12-31 235.45 14.80 43.26
2013-09-30 166.01 12.57 21.96
2013-06-30 172.20 14.43 23.16
2013-03-31 186.38 17.37 24.07
2012-12-31 210.64 22.83 25.07

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Gaming and Leisure Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gaming and Leisure Properties used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Gaming and Leisure Properties has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Gaming and Leisure Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Gaming and Leisure Properties has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Gaming and Leisure Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Gaming and Leisure Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gaming and Leisure Properties's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Gaming and Leisure Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Gaming and Leisure Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gaming and Leisure Properties Company Filings, last reported 1 month ago.

NasdaqGS:GLPI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 2,106.63 5,748.12 25.56
2019-06-30 2,158.69 5,795.94 24.74
2019-03-31 2,207.68 5,794.04 30.33
2018-12-31 2,265.61 5,852.39 25.78
2018-09-30 2,358.40 5,448.01 1,162.77
2018-06-30 2,378.77 4,505.57 144.47
2018-03-31 2,416.85 4,399.91 45.42
2017-12-31 2,458.25 4,441.65 29.05
2017-09-30 2,493.10 4,448.39 43.63
2017-06-30 2,518.77 4,520.14 29.51
2017-03-31 2,407.34 4,571.88 23.36
2016-12-31 2,433.87 4,663.62 36.56
2016-09-30 2,449.66 4,660.37 25.36
2016-06-30 2,386.17 4,512.11 23.74
2016-03-31 -258.82 2,467.62 61.56
2015-12-31 -253.51 2,508.95 41.88
2015-09-30 -236.59 2,540.00 42.74
2015-06-30 -215.31 2,565.00 31.06
2015-03-31 -191.05 2,575.00 45.37
2014-12-31 -176.29 2,568.87 35.97
2014-09-30 -77.90 2,546.00 31.33
2014-06-30 -72.92 2,526.00 41.68
2014-03-31 -68.03 2,500.00 48.28
2013-12-31 137.45 2,350.00 285.22
2013-09-30 244.34 0.00 18.55
2013-06-30 244.24 0.00 18.40
2013-03-31 239.54 0.00 17.19
2012-12-31 236.33 0.00 14.56
  • Gaming and Leisure Properties's level of debt (272.9%) compared to net worth is high (greater than 40%).
  • Gaming and Leisure Properties had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is not well covered by operating cash flow (12.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Gaming and Leisure Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Gaming and Leisure Properties has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Gaming and Leisure Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.44%
Current annual income from Gaming and Leisure Properties dividends. Estimated to be 6.61% next year.
If you bought $2,000 of Gaming and Leisure Properties shares you are expected to receive $129 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Gaming and Leisure Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Gaming and Leisure Properties's dividend is above the markets top 25% of dividend payers in United States of America (3.65%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:GLPI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 175 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1954 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:GLPI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.86 12.00
2020-12-31 2.80 14.00
2019-12-31 2.73 14.00
2019-11-22
NasdaqGS:GLPI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-21 2.720 6.893
2019-08-08 2.720 7.226
2019-08-07 2.720 7.213
2019-02-20 2.720 7.035
2018-10-15 2.720 7.889
2018-04-25 2.520 7.167
2018-02-08 2.520 7.508
2017-10-26 2.520 6.951
2017-07-31 2.520 6.719
2017-07-27 2.520 6.679
2017-05-03 2.480 6.738
2017-04-27 2.480 7.094
2017-02-22 2.480 7.573
2017-02-02 2.480 7.824
2016-08-09 2.400 7.487
2016-04-26 2.240 6.569
2016-02-22 2.240 7.553
2016-02-04 2.240 8.592
2015-07-30 2.180 7.522
2015-05-04 2.180 6.034
2015-02-27 2.180 6.025
2015-02-03 2.180 6.468
2014-11-19 2.080 6.771
2014-09-03 2.080 6.579
2014-05-30 2.080 6.121
2014-02-19 2.080 5.720

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Gaming and Leisure Properties has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Gaming and Leisure Properties only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Gaming and Leisure Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (242.1x coverage).
X
Income/ dividend checks
We assess Gaming and Leisure Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Gaming and Leisure Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gaming and Leisure Properties has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Gaming and Leisure Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Carlino
COMPENSATION $12,448,237
AGE 73
TENURE AS CEO 6.8 years
CEO Bio

Mr. Peter M. Carlino has been Chairman of the Board and Chief Executive Officer of Gaming and Leisure Properties, Inc. since February 2013 and serves as its President. Mr. Carlino has been the President at Carlino Development Group since 2006. Mr. Carlino joined the Gaming and Leisure in connection with the Spin-Off on November 1, 2013. Prior to the Spin-Off, Mr. Carlino served as Penn's founder. He has been the President at Carlino Capital Management Corp. since 1976. Mr. Carlino served as the Chief Executive Officer at Penn National Gaming Inc. from April 1994 to November 1, 2013. He devoted substantial portion of his time to developing, building and operating residential and commercial real estate projects located primarily in central Pennsylvania from 1984 to 1994. Mr. Carlino has been the Chairman Emeritus of Penn National Gaming, Inc. since June 12, 2019 and served as the Chairman of the Board since April 1994 until June 12, 2019. He serves as the Chairman of Carlino Development Group, Inc. Mr. Carlino served as a Director of American Gaming Association until May 2010.

CEO Compensation
  • Peter's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Gaming and Leisure Properties management team in years:

5.6
Average Tenure
56
Average Age
  • The average tenure for the Gaming and Leisure Properties management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter Carlino

TITLE
Chairman
COMPENSATION
$12M
AGE
73
TENURE
6.8 yrs

Steven Snyder

TITLE
Senior VP & CFO
COMPENSATION
$4M
AGE
58
TENURE
1.5 yrs

Desiree Burke

TITLE
Senior VP & Chief Accounting Officer
COMPENSATION
$2M
AGE
54
TENURE
5.6 yrs

Brandon Moore

TITLE
Senior VP
COMPENSATION
$2M
AGE
44
TENURE
5.8 yrs

Matthew Demchyk

TITLE
Senior Vice President of Investments
TENURE
0.8 yrs

Hayes Croushore

TITLE
Investor Relations

Steven Ladany

TITLE
Senior Vice President of Finance

Kara Smith

TITLE
Senior Vice President

Brad Cohen

TITLE
Senior Managing Director
Board of Directors Tenure

Average tenure and age of the Gaming and Leisure Properties board of directors in years:

2.7
Average Tenure
69
Average Age
  • The average tenure for the Gaming and Leisure Properties board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Carlino

TITLE
Chairman
COMPENSATION
$12M
AGE
73
TENURE
6.8 yrs

Chip Marshall

TITLE
Lead Independent Director
COMPENSATION
$312K
AGE
66

Evan Urdang

TITLE
Independent Director
COMPENSATION
$303K
AGE
69
TENURE
6.1 yrs

Earl Shanks

TITLE
Independent Director
COMPENSATION
$288K
AGE
62
TENURE
2.7 yrs

Jim Perry

TITLE
Independent Director
COMPENSATION
$283K
AGE
69
TENURE
2.7 yrs

Barry Schwartz

TITLE
Independent Director
COMPENSATION
$288K
AGE
70
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Gaming and Leisure Properties individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Nov 19 Buy Matthew Demchyk Individual 18. Nov 19 18. Nov 19 2,500 $42.75 $106,875
08. Nov 19 Buy Matthew Demchyk Individual 08. Nov 19 08. Nov 19 2,500 $42.00 $105,000
06. Nov 19 Buy Matthew Demchyk Individual 05. Nov 19 05. Nov 19 5,000 $41.40 $207,000
20. Aug 19 Buy Matthew Demchyk Individual 20. Aug 19 20. Aug 19 5,000 $37.57 $187,850
01. Mar 19 Buy Matthew Demchyk Individual 28. Feb 19 28. Feb 19 4,000 $36.50 $146,000
22. Feb 19 Buy Matthew Demchyk Individual 20. Feb 19 20. Feb 19 1,000 $36.49 $36,490
14. Dec 18 Buy Evan Urdang Individual 13. Dec 18 13. Dec 18 5,000 $34.27 $171,350
X
Management checks
We assess Gaming and Leisure Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Gaming and Leisure Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Insiders Increased Their Holdings

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for Gaming and Leisure Properties Gaming and Leisure Properties Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by Director Evan Urdang for US$472k worth of shares, at about US$33.72 per share. … In the last twelve months Gaming and Leisure Properties insiders were buying shares, but not selling. … Judging from their transactions, and high insider ownership, Gaming and Leisure Properties insiders feel good about the company's future.

Simply Wall St -

Here's What You Should Know About Gaming and Leisure Properties, Inc.'s (NASDAQ:GLPI) 7.3% Dividend Yield

As Gaming and Leisure Properties's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. … Gaming and Leisure Properties has been paying a dividend for the past five years. … It's good to see Gaming and Leisure Properties has been growing its earnings per share at 64% a year over the past 5 years.

Simply Wall St -

The Gaming and Leisure Properties (NASDAQ:GLPI) Share Price Has Gained 12% And Shareholders Are Hoping For More

Furthermore, you'd generally like to see the share price rise faster than the market Unfortunately for shareholders, while the Gaming and Leisure Properties, Inc. … During five years of share price growth, Gaming and Leisure Properties achieved compound earnings per share (EPS) growth of 31% per year. … A Different Perspective We're pleased to report that Gaming and Leisure Properties shareholders have received a total shareholder return of 17% over one year.

Simply Wall St -

Gaming and Leisure Properties (NASDAQ:GLPI) Has A Somewhat Strained Balance Sheet

See our latest analysis for Gaming and Leisure Properties What Is Gaming and Leisure Properties's Debt? … NasdaqGS:GLPI Historical Debt, June 23rd 2019 A Look At Gaming and Leisure Properties's Liabilities Zooming in on the latest balance sheet data, we can see that Gaming and Leisure Properties had liabilities of US$113.7m due within 12 months and liabilities of US$6.33b due beyond that. … Either way, since Gaming and Leisure Properties does have more debt than cash, it's worth keeping an eye on its balance sheet.

Simply Wall St -

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Goes Ex-Dividend In 4 Days

View our latest analysis for Gaming and Leisure Properties Dividends are typically paid from company earnings. … It's good to see that while Gaming and Leisure Properties's dividends were not covered by profits, at least they are affordable from a cash perspective. … Earnings per share have been growing much quicker than dividends, potentially because Gaming and Leisure Properties is keeping back more of its profits to grow the business.

Simply Wall St -

How Should You Analyze REIT Stock Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)?

The structure of GLPI is unique and it has to adhere to different requirements compared to other non-REIT stocks. … I'd strongly recommend continuing your research on the following areas I believe are key fundamentals for GLPI: Future Outlook: What are well-informed industry analysts predicting for GLPI’s future growth? … The intrinsic value infographic in our free research report helps visualize whether GLPI is currently mispriced by the market.

Simply Wall St -

Should You Take Comfort From Insider Transactions At Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)?

The Last 12 Months Of Insider Transactions At Gaming and Leisure Properties. … That means that an insider was happy to buy shares at around the current price of US$39.92. … We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price

Simply Wall St -

Can Gaming and Leisure Properties, Inc.'s (NASDAQ:GLPI) ROE Continue To Surpass The Industry Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … To keep the lesson grounded in practicality, we'll use ROE to better understand Gaming and Leisure Properties, Inc. … Gaming and Leisure Properties has a ROE of 15%, based on the last twelve months.

Simply Wall St -

Should Gaming and Leisure Properties (NASDAQ:GLPI) Be Disappointed With Their 23% Profit?

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During three years of share price growth, Gaming and Leisure Properties achieved compound earnings per share growth of 12% per year. … It might be well worthwhile taking a look at our free report on Gaming and Leisure Properties's earnings, revenue and cash flow.

Simply Wall St -

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI): Can Growth Justify Its March Share Price?

Looking at Gaming and Leisure Properties, Inc.’s (NASDAQ:GLPI) fundamentals some investors are wondering if its last closing price of $37.04 represents a good value for money for this high growth stock. … Check out our latest analysis for Gaming and Leisure Properties? … Analysts are predicting good growth prospects for Gaming and Leisure Properties over the next couple of years

Simply Wall St -

Company Info

Description

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. GLPI expects to grow its portfolio by pursuing opportunities to acquire additional gaming facilities to lease to gaming operators. GLPI also intends to diversify its portfolio over time, including by acquiring properties outside the gaming industry to lease to third parties. GLPI elected to be taxed as a REIT for United States federal income tax purposes commencing with the 2014 taxable year and was the first gaming-focused REIT in North America.

Details
Name: Gaming and Leisure Properties, Inc.
GLPI
Exchange: NasdaqGS
Founded:
$9,064,320,600
214,692,577
Website: http://www.glpropinc.com
Address: Gaming and Leisure Properties, Inc.
845 Berkshire Boulevard,
Suite 200,
Wyomissing,
Pennsylvania, 19610,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS GLPI Common Shares Nasdaq Global Select US USD 14. Oct 2013
DB 2GL Common Shares Deutsche Boerse AG DE EUR 14. Oct 2013
Number of employees
Current staff
Staff numbers
644
Gaming and Leisure Properties employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/22 00:12
End of day share price update: 2019/11/21 00:00
Last estimates confirmation: 2019/11/11
Last earnings filing: 2019/11/01
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.