#6 - Gaming and Leisure Properties (NASDAQ:GLPI)
Because of their business structure, real estate investment trusts (REITs) can be attractive choices among high-yield dividend stocks. One name to consider is Gaming and Leisure Properties (NASDAQ: GLPI), the nation’s first gaming-oriented REIT.
When investing in REITs, it’s important to understand the underlying business model. In the case of GLPI, the company focuses on gaming operators with triple-net lease arrangements. This means that the company’s tenants are responsible for all costs related to the leased property (e.g. facility maintenance, insurance) in addition to rent.
At the end of 2024, the company’s pipeline included 66 properties in 20+ states, valued at over $2 billion. GLPI has operated at 100% capacity since its inception, and most of the company’s current leases were negotiated with higher interest rates. Analysts believe the company will benefit from sticky capitalization rates in the sector, even in a lower interest rate environment.
Gaming and Leisure Properties pays a quarterly dividend with a 6.35% yield, which has been growing at an average annualized rate of 5.7% in the last three years.
About Gaming and Leisure Properties
Gaming & Leisure Properties, Inc engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.
- Current Price
- $49.52
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $54.11 (9.3% Upside)
