Gaming And Leisure Properties REIT Climbs Higher

While many real estate investment trusts (REITs) are heading lower, there is at least this one that’s definitely heading higher. Gaming and Leisure Properties Inc. GLPI continues to blast up to new 52-week highs after bottoming in late September and early October. 

The company’s portfolio contains gaming or gaming-related properties in 18 states. Wyomissing, Pennsylvania-based Gaming and Leisure Properties operates the Hollywood Casino in Toledo, Ohio, and the Tropicana in Atlantic City, New Jersey, among other spots.

The REIT has a market capitalization of $14.34 billion, trades with a price-earnings ratio of 20.65 and at 3.77 times book value. Over the previous 12 months, the company’s funds from operations increased by 19.3% and over the past five years, by 9.4%. Long-term debt exceeds shareholder equity by 1.64 times.

The REIT has an average daily volume of 1.12 million shares, which puts it on the relatively actively traded list. Institutions own 92% of the total float.

Gaming and Leisure Properties is paying a 5.24% dividend.

On Jan. 9, Raymond James downgraded the REIT from Strong Buy to Outperform and reduced its price target from $57 to $55. On Jan. 11, Truist analysts upgraded their opinion of the REIT from Hold to Buy and took their price target from $54 to $60. 

The daily price chart is here:

From the late September low of $43 to the current level of $54 is a gain of 20% in a little over five months. That’s not bad when most other REITs are either moving up slowly or moving down. That Gaming and Leisure Properties continues to trade above both the 50-day moving average (the blue line) and the 200-day moving average (the red line) is positive.

The weekly price chart looks like this:

The REIT is steadily gaining in price from the March 2020 pandemic-scare low to the present with the occasional short-term up and down. It’s bullish as long it maintains a price above the 50-week and the 200-week moving averages.

Not investment advice. For educational purposes only. 

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Over the past five years, private market real estate investments have outperformed the publicly traded REIT market by about 50%. Check out Benzinga’s Real Estate Offering Screener to discover the latest passive real estate investments.

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