Gaming and Leisure Q3 revenue slightly misses estimates
Overview
US gaming REIT's Q3 revenue rose 9.5% yr/yr, slightly missing analyst expectations
Adjusted EBITDA for Q3 beat analyst expectations
Outlook
Company sees 2026 AFFO between $1.222 bln and $1.225 bln
Company expects 2026 AFFO per share of $4.11 to $4.12
Company raises lower end of 2026 AFFO guidance from $1.219 bln to $1.222 bln
Result Drivers
TRIPLE-NET LEASES - Co attributed performance to long-term triple-net leases with built-in rent escalators and strong lease coverage
RENT DURABILITY - Co said rent collections remained resilient despite a volatile macroeconomic environment, supported by healthy same-store operator results
DEVELOPMENT FUNDING - Co increased development spending, which contributed to portfolio growth
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Miss* | $435.40 mln | $436.33 mln (15 Analysts) |
Q3 Net Income | $213.82 mln | ||
Q3 Adjusted EBITDA | Beat | $413.90 mln | $408.26 mln (15 Analysts) |
Q3 Adjusted FFO | $311.67 mln | ||
Q3 FFO | $275.90 mln | ||
Q3 Operating Income | $309.90 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Gaming and Leisure Properties, Inc. is $52.00, about 35.2% above its October 28 closing price of $38.45
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
Oct 28 - EPR Properties Q3 AFFO per share rises; raises FY2026 earnings outlook
Oct 27 - WP Carey Q3 revenue beats estimates, raises annual AFFO forecast on strong investment activity
Oct 28 - Four Corners Property Trust Q3 rental revenue rises 13.8%
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)