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Gaming and Leisure Q3 revenue slightly misses estimates

By Reuters News


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%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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