Gaming And Leisure Properties (GLPI) Q1 FFO Of US$304 Million Tests Bullish REIT Narratives

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Gaming And Leisure Properties (GLPI) reported Q1 FFO of US$304 million and trailing twelve-month FFO of US$1.11 billion, accompanied by a strong 55% net margin. Despite robust cash generation and margins, the company faces questions regarding debt coverage, an unstable dividend history, and moderate growth forecasts of around 6%. The article suggests that while GLPI trades at a P/E of 15x compared to a sector average of 28.7x and has a DCF fair value of US$95.05 against its current price of US$47.31, concerns about leverage and payout stability may explain the market’s cautious valuation.

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