Gaming and Leisure Properties (GLPI) got here out with quarterly funds from operations (FFO) of $0.84 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to FFO of $0.88 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an FFO shock of 1.20%. 1 / 4 in the past, it was anticipated that this actual property funding belief would put up FFO of $0.85 per share when it truly produced FFO of $0.85, delivering no shock.
During the last 4 quarters, the corporate has surpassed consensus FFO estimates thrice.
Gaming and Leisure Properties, which belongs to the Zacks REIT and Fairness Belief – Different trade, posted revenues of $301.54 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 1.51%. This compares to year-ago revenues of $283.48 million. The corporate has topped consensus income estimates thrice over the past 4 quarters.
The sustainability of the inventory’s fast value motion primarily based on the recently-released numbers and future FFO expectations will largely depend upon administration’s commentary on the earnings name.
Gaming and Leisure Properties shares have added about 8.6% for the reason that starting of the yr versus the S&P 500’s achieve of 11.4%.
What’s Subsequent for Gaming and Leisure Properties?
Whereas Gaming and Leisure Properties has underperformed the market to date this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s FFO outlook. Not solely does this embrace present consensus FFO expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and traits in estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a powerful monitor file of harnessing the ability of estimate revisions.
Forward of this earnings launch, the estimate revisions development for Gaming and Leisure Properties was favorable. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You may see the whole checklist of right now’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus FFO estimate is $0.84 on $299.05 million in revenues for the approaching quarter and $3.36 on $1.16 billion in revenues for the present fiscal yr.
Traders must be conscious of the truth that the outlook for the trade can have a cloth impression on the efficiency of the inventory as effectively. When it comes to the Zacks Trade Rank, REIT and Fairness Belief – Different is at the moment within the backside 17% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Gaming and Leisure Properties, Inc. (GLPI): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.