Gaming and Leisure Properties (GLPI) got here out with quarterly funds from operations (FFO) of $0.
Gaming and Leisure Properties (GLPI) got here out with quarterly funds from operations (FFO) of $0.89 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to FFO of $0.87 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an FFO shock of 4.71%. 1 / 4 in the past, it was anticipated that this actual property funding belief would submit FFO of $0.82 per share when it really produced FFO of $0.84, delivering a shock of two.44%.
Over the past 4 quarters, the corporate has surpassed consensus FFO estimates 3 times.
Gaming and Leisure Properties, which belongs to the Zacks REIT and Fairness Belief – Different business, posted revenues of $307.55 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 8.74%. This compares to year-ago revenues of $287.61 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future FFO expectations will largely rely on administration’s commentary on the earnings name.
Gaming and Leisure Properties shares have misplaced about 11.5% because the starting of the yr versus the S&P 500’s achieve of 5.3%.
What’s Subsequent for Gaming and Leisure Properties?
Whereas Gaming and Leisure Properties has underperformed the market to this point this yr, the query that involves traders’ 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 traders tackle that is the corporate’s FFO outlook. Not solely does this embrace present consensus FFO expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis exhibits a robust 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 ranking software just like the Zacks Rank, which has a formidable monitor report of harnessing the facility of estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Gaming and Leisure Properties was unfavorable. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You may see the whole record of as we speak’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably 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 $285.09 million in revenues for the approaching quarter and $3.37 on $1.11 billion in revenues for the present fiscal yr.
Traders needs to be aware of the truth that the outlook for the business can have a fabric 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 13% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Need the newest suggestions from Zacks Funding Analysis? Right now, you may obtain 7 Finest Shares for the Subsequent 30 Days. Click on to get this free report
Gaming and Leisure Properties, Inc. (GLPI): Free Inventory Evaluation Report
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.