Gaming and Leisure Properties, Inc. (GLPI) Stock

Gaming and Leisure Properties, Inc. (GLPI) is a Real Estate stock trading at $43.55 (as of 2026-08-21), with a market capitalization of $12.67B and a trailing P/E of 13.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Gaming and Leisure Properties, Inc. acquires, finances, and owns real estate that is leased to gaming operators under triple-net arrangements. The company’s activities focus on providing leased property services to gaming operators.

Understand Gaming and Leisure Properties, Inc.: how it makes money

Gaming & Leisure Properties (GLPI) acquires, finances, and owns real estate properties that it leases to gaming operators under triple-net lease arrangements, earning rental income that includes cash rent plus non-cash rental revenue adjustments.

GLPI’s profit model is recurring rent from triple-net leases to gaming operators, with reported results driven by cash rental income plus non-cash rental revenue accounting adjustments (for example, straight-line rent and lease-related adjustments).

Revenue by segment (latest quarter)
Cash$0.4B
Rental adj.$0.0B

Business quality (Strong): Segment and KPI data provided here focus on cash rental income and non-cash rental revenue adjustments, which fit the company’s triple-net real estate leasing model, but the provided facts do not include detail on lease terms, tenant concentration, or segment-level operating drivers beyond these components.

Valuation: At 14× earnings, GLPI trades 58% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Triple-net lease structure: Income is tied to leasing real estate properties to gaming operators under triple-net arrangements, creating a rental income business model.
  • Cash rent visibility: Cash revenue is a key operating metric provided in the fact set, helping investors track the core cash component of rental income.

Bear case

  • Exposure to gaming operator performance: Because properties are leased to gaming operators, changes in those operators can affect GLPI’s rental income stream.
  • Non-cash rental accounting can obscure cash trends: Reported results can include non-cash rental revenue gross-ups and straight-line rent adjustments, which may not track the cash rental profile 1:1.
Valuation — source: SEC EDGAR (first-party)
Price$43.55
Market Cap$12.67B
P/E Ratio13.5
EV / EBITDA12.7
Price / Book2.35
Price / Sales7.60
FCF Yield2.5%
DCF Value (model)$78.39
DCF Upside vs Price80.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.59B
Net Margin51.7%
Revenue Growth (YoY)4.1%
EPS Growth (YoY)2.8%
Valuation vs Sector & Industry
Stock P/E13.5
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector-50.4%
vs Industry-61.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($1.70B)
Institutional Holders Tracked10
Congressional Trades (recent)7
Company
SectorReal Estate
IndustryTrading
CEOPeter Carlino
Employees19
CountryUS
IPO Date2013-10-14

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GLPI earnings history · GLPI institutional & insider holders · GLPI KPIs & operating metrics · GLPI financials · GLPI investor presentations & press releases · GLPI SEC filings · GLPI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.