GLPI's quarterly revenue has risen from $380.6M in Q2 2024 to $435.4M in Q3 2026, with year-over-year growth re-accelerating to 9.5% after troughing near 3.2% in mid-2025, suggesting the triple-net rent model is compounding steadily.
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Revenue grew from $380.6M in Q2 2024 to $435.4M in Q3 2026 with growth re-accelerating to 9.5%, while reported NOI margins near 96.5% through 2024-2025 fell to roughly 65% in 2026 quarters, warranting verification of the NOI definition.
GLPI reported record first-quarter 2026 results, with revenues reaching $420 million and net income at $239.4 million. Adjusted Funds From Operations (AFFO) increased by 9.2% year-over-year to $297.1 million, and the company's earnings per share (EPS) of $0.82 surpassed analyst expectations of $0.77.
Management highlighted a pipeline of approximately $1.8 billion in capital commitments through 2027, with plans for $750 million to $800 million in development spend for 2026. This includes strategic acquisitions like the Bally's Lincoln acquisition and commitments for Live! Virginia, signaling continued expansion.
GLPI's business model involves acquiring, financing, and owning real estate properties leased to gaming operators under triple-net lease arrangements. This structure provides a steady stream of rental income, with tenants responsible for property taxes, insurance, and maintenance, minimizing operational risks.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 29, 2026 | $0.71-11.5% vs $0.80 | $435M-0.2% vs $436M |
Q3 2026 Jul 30, 2026 | $0.80+0.3% vs $0.80 | $431M+0.5% vs $429M |
Q2 2026 Apr 23, 2026 | $0.82+7.0% vs $0.77 | $420M+1.7% vs $413M |
Q1 2026 Feb 19, 2026 | $0.95+25.8% vs $0.76 | $407M+0.4% vs $405M |
Casino landlords, timberland owners, and farm operators all collect rent in wildly different ways, and only one of these four specialty REITs has a dividend that its own earnings guidance can actually cover.
Holding high-yield REITs in a taxable account hands the IRS a cut of every dividend for as long as you own the shares, but the Roth version of that same portfolio changes the math in a way most investors never
Your high-yield BDC and REIT positions may be quietly generating a five-figure tax bill every single year, and the account type holding them determines whether that cost is optional or inevitable.
Gaming and Leisure Properties is upgraded to a strong buy after an 11% price drop, presenting a compelling buy-the-dip opportunity. GLPI's regional focus, long leases, 100% occupancy, and strong tenant rent coverage underpin portfolio stability despite tenant concentration risks. Recent AFFO per share expanded 10% year-over-year, with management guiding for nearly 6% growth in 2026 and a robust development pipeline at attractive cap rates.
Benchmark GLPI against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Gaming and Leisure Properties, Inc. (GLPI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $38.89 | $11.01B | 12.10 | 4.13% | 55.24% | 18% | 8.01% | |
| $24.79 | $27.3B | 11.63 | 4.08% | 56.46% | 8.1% | 7.04% | |
| $1.81 | $1.08B | 4.34 | -2.36% | 24.14% | 5.45% | 17.77% | |
| $41.12 | $7.82B | 19.78 | 6.55% | 40.89% | 8.93% | 5.73% | |
| $65.05 | $14.82B | 23.13 | 8.89% | 38.11% | 7.67% | 5.49% | |
| $59.04 | $55.05B | 39.76 | 9.07% | 23.15% | 3.4% | 5.47% |
Gaming and Leisure Properties, Inc. (GLPI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Gaming and Leisure Properties, Inc. (GLPI) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 30, 2026·SEC
Jul 31, 2026·SEC
Jun 5, 2026·SEC
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Gaming and Leisure Properties, Inc. (GLPI) stock FAQ — growth, dividends, profitability & financials explained
Gaming and Leisure Properties, Inc. (GLPI) reported $1.69B in revenue over the trailing twelve months. Revenue was $1.59B in fiscal year 2025. That is 657% more than the $210.6M of fiscal year 2012.
Gaming and Leisure Properties, Inc. (GLPI) grew revenue by 7.3% over the trailing twelve months, compared with the twelve months before.
Yes. Gaming and Leisure Properties, Inc. (GLPI) earned $935.2M in net income over the trailing twelve months (a 55.2% net margin).
Yes. Gaming and Leisure Properties, Inc. (GLPI) pays a dividend that yields 8.01% at the current price, a high yield.
Gaming and Leisure Properties, Inc. (GLPI) had a return on equity (ROE) of 18.0% over the trailing twelve months. That is above the market's typical 10-15%.
Gaming and Leisure Properties, Inc. (GLPI) generated Funds From Operations (FFO) of $1.21B in the trailing twelve months. FFO is the primary profitability metric for REITs.
Gaming and Leisure Properties, Inc. (GLPI) offers a 8.01% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
