Citizens Reaffirms Outperform Rating on Gaming and Leisure Properties

EarningsCorporate Action
โดย Insider Monkey·Read original
Summary · why it matters

Citizens reaffirmed its Market Outperform rating on Gaming and Leisure Properties and kept a $55 price target. The firm cited a lack of formal market competition, solid deal pipelines, and robust balance sheets among casino REITs. Gaming and Leisure Properties reported first-quarter earnings per share of $0.82, up 6.49% from the expected $0.77, with revenue of $420 million. During the quarter, the REIT executed two major acquisitions totaling $727 million, buying Bally's Lincoln real estate assets and the land related to The Cordish Companies Live! Casino and Hotel Virginia.

Impact on stocks 2

Real Estate▲ · 1 stocks
Gaming & Leisure Properties
GLPI
▲ PositiveCapitalrelevance

Citizens reaffirmed Outperform rating with $55 PT; Q1 earnings beat estimates; executed $727M acquisitions.

Consumer Discretionary▲ · 1 stocks
Bally's Corp
BALY
▲ PositiveCapitalrelevance

Gaming and Leisure Properties acquired Bally's Lincoln real estate assets, providing capital to Bally's Corp.

Off-coverage companies 1

The Cordish CompaniesPrivate▲ Positive
Capitalrelevance

Gaming and Leisure Properties acquired land related to The Cordish Companies' Live! Casino and Hotel Virginia.

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