Citizens Reaffirms Outperform Rating on Gaming and Leisure Properties (GLPI) Following Strategic Casino Acquisitions

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) ranks among the best sin stocks to buy for recession protection. On June 12, Citizens reaffirmed its Market Outperform rating for Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) and kept a $55 price target on the company’s shares. The firm had an optimistic outlook on casino REITs, noting a lack of formal market competition, solid deal pipelines, and robust balance sheets.

This optimistic feeling was highlighted in Gaming and Leisure’s first-quarter performance. The gaming-focused REIT announced earnings per share of $0.82, up 6.49% from the expected $0.77, while revenue came in at $420 million, compared to $417.27 million.

Also during the quarter, Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) executed two major acquisitions totaling $727 million. It bought Bally’s Lincoln real estate assets, as well as the land related to The Cordish Companies Live! Casino and Hotel Virginia. Through the acquisitions, the REIT has gained premium assets that boost AFFO per share.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is a real estate investment trust (REIT) that acquires, owns, and manages gaming and entertainment properties, such as casinos and racetracks.

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