Analyst Consensus ?
ConsensusBuy27 ratings
Bullish1866.7%
Neutral725.9%
Bearish27.4%
1 unmapped firm rating excluded from the percentages.
Gaming and Leisure Properties, Inc. · GLPI · FY2026 Q1 · Calendar Q2 2026
GLPI Maintains AFFO Outlook as Development Spending Rises
The quarter’s evidence supports a measured growth case for GLPI: management cited mid- to high-single-digit AFFO growth, rent coverage above 1.8x, and cash-rent contributions from acquisitions and development. The thesis remains conditional on project execution, tenant and lease health, and the economics of a larger development program.
Reported After market closeNASDAQReal Estate
$11.34B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.82
Consensus $0.77
EPS surprise
+7.0%
Reported versus consensus
Reported revenue
$420.0M
Consensus $413.0M
Revenue surprise
+1.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+1.4%
Event window
SPY move
+0.8%
Same window
Abnormal move
+0.7%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
+1.0%
Up to 20 sessions
GLPISPY benchmark
Ask FN2 about GLPI FY2026 Q1
Transcript, numbers and history already loaded
Why did GLPI rise 1.4% after beating EPS estimates in FY2026 Q1?What changed in GLPI's guidance and outlook in FY2026 Q1?Give me the bull and bear case for GLPI after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management reported mid- to high-single-digit AFFO and AFFO-per-share growth, maintained full-year AFFO guidance, and raised development-spending guidance as the Chicago project accelerated. The call also highlighted the Bally’s Lincoln acquisition and the planned Penn Aurora acquisition.
Guidance delta
Full-year AFFO guidance was maintained at $1.212–$1.223 billion. Development-spending guidance increased to $750–$800 million, with management attributing the higher spend to an accelerated Chicago project cadence.
Key takeaways
- AFFO and AFFO per share grew in the mid- to high-single-digit range; rent coverage was above 1.8x.
- Management maintained full-year AFFO guidance while increasing development-spending guidance to $750–$800 million.
- Acquisitions, lease escalations, and phased development were identified as sources of cash-rent growth.
Management priorities
- Deploy capital across acquisitions and development projects.
- Advance the Chicago development, with opening targeted for the first half of 2027.
- Fund and progress the Cordish Virginia and other pipeline developments.
- Continue evaluating tribal investment opportunities.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$38.98Current
$43Low
$50.97Average
$57High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Buy | Maintain | Oct 20, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 20, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 19, 2026 |
| Macquarie | Outperform | Outperform | Maintain | Oct 7, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Oct 2, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Sep 24, 2026 |
| JP Morgan | Neutral | Overweight | Downgrade | Sep 24, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 17, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 2, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Aug 10, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 3, 2026 |
| Stifel | Hold | Hold | Maintain | Jul 31, 2026 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Apr 1, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Dec 18, 2024 |
| Deutsche Bank | Buy | Hold | Upgrade | Nov 20, 2024 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Aug 23, 2024 |
| Raymond James | Outperform | Outperform | Maintain | Aug 21, 2024 |
| UBS | Buy | Buy | Maintain | Jul 16, 2024 |
| Wedbush | Outperform | Outperform | Maintain | May 17, 2024 |
| Keybanc | Overweight | Downgrade | Mar 9, 2023 | |
| B of A Securities | Underperform | Buy | Downgrade | Jan 10, 2022 |
| Jefferies | Buy | Hold | Upgrade | Nov 2, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Apr 22, 2020 |
| Nomura | Buy | Neutral | Upgrade | Mar 25, 2020 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Apr 15, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Apr 17, 2018 |
| Susquehanna | Neutral | Neutral | Maintain | Jul 9, 2015 |
| Credit Suisse | Outperform | Outperform | Maintain | Oct 29, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $38.98. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Barry Jonas | $55 | $39.26 | +41.1% | Oct 20, 2026 |
| Barclays | Analyst unavailable | $44 | $38.82 | +12.9% | Oct 20, 2026 |
| Scotiabank | Analyst unavailable | $43 | $38.48 | +10.3% | Sep 24, 2026 |
| Scotiabank | Greg McGinniss | $49 | $40.15 | +25.7% | Sep 17, 2026 |
| Morgan Stanley | Analyst unavailable | $50 | $40.35 | +28.3% | Sep 17, 2026 |
| Mizuho Securities | Analyst unavailable | $48 | $41.8 | +23.1% | Sep 2, 2026 |
| Wells Fargo | Analyst unavailable | $43 | $42.07 | +10.3% | Sep 1, 2026 |
| Scotiabank | Analyst unavailable | $50 | $43.31 | +28.3% | Aug 13, 2026 |
| Raymond James | Analyst unavailable | $47 | $43.4 | +20.6% | Aug 13, 2026 |
| RBC Capital | Analyst unavailable | $52 | $44.44 | +33.4% | Aug 3, 2026 |
| Stifel Nicolaus | Analyst unavailable | $49 | $44.71 | +25.7% | Jul 31, 2026 |
| Barclays | Richard Hightower | $50 | $44.51 | +28.3% | Jul 22, 2026 |
| Wells Fargo | Analyst unavailable | $45 | $43.84 | +15.4% | Jul 15, 2026 |
| Morgan Stanley | Analyst unavailable | $55 | $43.61 | +41.1% | Jul 6, 2026 |
| UBS | Analyst unavailable | $49 | $45.12 | +25.7% | Jun 18, 2026 |
| Scotiabank | Analyst unavailable | $52 | $48.03 | +33.4% | May 12, 2026 |
| Stifel Nicolaus | Analyst unavailable | $50 | $47.39 | +28.3% | Apr 24, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $53 | $48.95 | +36.0% | Mar 9, 2026 |
| Stifel Nicolaus | Analyst unavailable | $48.5 | $46.85 | +24.4% | Feb 12, 2026 |
| Barclays | Analyst unavailable | $53 | $46.24 | +36.0% | Feb 12, 2026 |
| Scotiabank | Analyst unavailable | $48 | $44.79 | +23.1% | Feb 2, 2026 |
| Morgan Stanley | Ronald Kamdem | $53 | $44.71 | +36.0% | Dec 24, 2025 |
| Mizuho Securities | Analyst unavailable | $50 | $44.25 | +28.3% | Dec 17, 2025 |
| Stifel Nicolaus | Simon Yarmak | $47.75 | $44.02 | +22.5% | Dec 15, 2025 |
| Barclays | Richard Hightower | $52 | $43.26 | +33.4% | Dec 3, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $49 | $45.1 | +25.7% | Nov 6, 2025 |
| Barclays | Analyst unavailable | $54 | $44.83 | +38.5% | Oct 20, 2025 |
| Cantor Fitzgerald | Richard Anderson | $51 | $46.61 | +30.8% | Oct 1, 2025 |
| Wedbush | Analyst unavailable | $55 | $47.76 | +41.1% | Apr 28, 2025 |
| JMP Securities | Mitch Germain | $55 | $50.49 | +41.1% | Oct 29, 2024 |
| Wolfe Research | Andrew Rosivach | $57 | $50.71 | +46.2% | Aug 22, 2024 |
| Truist Financial | Barry Jonas | $60 | $49.45 | +53.9% | Jul 26, 2024 |
| Stifel Nicolaus | Simon Yarmak | $51 | $45.68 | +30.8% | May 17, 2024 |
| Raymond James | RJ Milligan | $54 | $45.83 | +38.5% | Dec 8, 2021 |
| CBRE | John DeCree | $55 | $45.24 | +41.1% | Dec 7, 2021 |
| Jefferies | David Katz | $57 | $44.86 | +46.2% | Dec 6, 2021 |
| UBS | Robin M. Farley | $54 | $45.7 | +38.5% | Aug 4, 2021 |
| KeyBanc | Todd Thomas | $52 | $45.08 | +33.4% | Jun 7, 2021 |
| Ladenburg Thalmann & Co. | John Massocca | $52.5 | $43.34 | +34.7% | May 27, 2021 |
| Citigroup | Smedes Rose | $50 | $43.29 | +28.3% | Apr 21, 2021 |
Track every rating change on GLPI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationGaming and Leisure Properties, Inc. is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. Gaming and Leisure Properties, Inc. was incorporated in 2013, Pennsylvania, USA.
Historical context
All GLPI earningsReal Estate peers this season
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|---|---|---|---|---|
| FRT Federal Realty Investment Trust | FY2026 Q3 · Calendar Q4 2026 | +3.9% | -1.1% | Federal Realty raises 2026 FFO outlook as leasing stays strong |
| WY Weyerhaeuser Company | FY2026 Q3 · Calendar Q4 2026 | +128.3% | +3.0% | Weyerhaeuser: Timberlands Strengthen as Growth Projects Advance |
| DLR-PL Digital Realty Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.4% | — | Digital Realty raises guidance as AI demand lifts leasing and backlog |
| DLR-PK Digital Realty Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.4% | — | Digital Realty Q3: Record Leasing and Higher FFO Guidance |
Latest beats and misses
Who reports nextBeat on EPS
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- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the GLPI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T20:30:46.838365+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T20:30:46.835652+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.