2024-03-05 08:00:00 ET
Summary
- Gaming and Leisure Properties reported Q4 and although FFO ticked up by $0.01, revenue beat by nearly $7 million.
- For the full-year, FFO declined roughly 4% while revenue grew by double-digits over the same period.
- The revenue growth was primarily driven by recent acquisitions along with rent escalators.
- GLPI also announced a 4.1% dividend increase from $0.73 to $0.76.
- This puts the annualized dividend at $3.04, giving the REIT a payout ratio slightly above management's target payout ratio of 80%.
Introduction
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Gaming and Leisure Properties Q4: Near 7% Yield And Dividend Growth Make Them A Buy