Gaming & Leisure Properties股票討論區

$Gaming & Leisure Properties(GLPI.US)$🎯 2024.4.12 當前價格42.84，持倉浮虧8%
新增數據：23Q3，23Q4，營收、營業利潤持續增長，淨利潤受其它淨收入影響在Q3萎縮，Q4增長。
2023年營收增長9.8%，營業利潤增長11%，淨利潤增長7.4%。
資產負債率從62.3%微降到61.8%，房地產增加到90億，佔118億總資產的76%，總負債73億，占房地產的81%。
目前市盈率15.5，股息率6.8%，估值仍有一定折扣，可以謹慎選擇 (⭐️)

Morning Movers
Gapping up
$西方石油(OXY.US)$ Berkshire Hathaway has acquired nearly 10.5 million shares of Occidental Petroleum so far this week for about $588.7 million, according to a filing at the U.S. Securities and Exchange Commission on Wednesday.
The purchases bring Berkshire's stake in Occidental to about 27%. Shares of OXY rose by 1.92% in premarket trading.
$Moderna(MRNA.US)$ shares rose more than 4% in pr...

Dividend investors love REITs becuase they have to payout 90% of their taxable income into dividends! i go over 4 that are at AMAZING buying opportunities! i show you all the numbers you want to see like Dividend cost vs Core FFO vs Stock dilution!
$吉勞埃地產(KRC.US)$ $Gaming & Leisure Properties(GLPI.US)$ $CubeSmart(CUBE.US)$ $美國電塔(AMT.US)$ $Realty Income(O.US)$ $不動產信託指數ETF-Vanguard(VNQ.US)$

$Gaming & Leisure Properties(GLPI.US)$是出租場所給賭場的，營收5年來僅在2020年萎縮0.03%，平均增速爲6.2%，營業利潤增速較快，5年平均增速爲9.8%，淨利潤除2018年萎縮10.8%以外增長了4年，5年平均增速爲13.2%。
2023上半年營收增長11%，營業利潤增長14.8%，淨利潤增長25.7%。
目前資產負債率62.8%，110億資產中房地產佔91億，現金只有950萬，應收帳款19億，應該就是一年的房租加上些長期應收。69億負債中62.5億都是長期負債，估計是抵押貸款，負債率不算高。
目前市盈率17.8，市盈率TTM下降到16.6，市淨率3.4，股息率5.9%，綜合來看可以謹慎選擇 (⭐️)

Here are the top gap ups and downs for the stocks with a market cap above $5 billion after the previous market closed (gaps range from large to small):
Gap Ups
1. $遊戲驛站(GME.US)$ - up 25.6%
2. $浦項鋼鐵(PKX.US)$ - up 1.2%
3. $菲律賓長途電話(PHI.US)$ - up 0.98%
4. $帝亞吉歐(DEO.US)$ - up 0.59%
5. $聯合利華(英國)(UL.US)$ - up 0.55%
6. $Woodside Energy(WDS.US)$ - up 0.46%
7. $Coupang(CPNG.US)$ - up 0.36%
Gap Downs
1. $美國豪斯特酒店(HST.US)$ - down ...

Here are the top gap ups and downs for the stocks with a market cap above $5 billion after the previous market closed (gaps range from large to small):
Gap Ups
1. $Topbuild(BLD.US)$ - up 2.7%
2. $Atlassian(TEAM.US)$ - up 2.4%
3. $Pool Corp(POOL.US)$ - up 2%
4. $索尼(SONY.US)$ - up 1.9%
5. $托爾兄弟(TOL.US)$ - up 1.8%
6. $查爾斯河實驗室(CRL.US)$ - up 1.4%
7. $Gaming & Leisure Properties(GLPI.US)$ - up 1.4%
8. $WPP PLC(WPP.US)$ - up 1.3%...

$美國房地產投資(ARL.US)$American Realty Inc currently owns 78.4% of TCI per the most recent SEC quarterly report.
TCI owns many residential and commercial real estate buildings that they have acquired many years ago and have renovated/leased out.
TCI just received a buyout offer of 383 million at $44.40 per share from Brixton capital.
ARL is entitled to the 300m payout for its 78.4% of the proceeds.
ARL is currently trading at 217m market cap meaning there is a 38% upside once the deal closes. (assuming offer does not increase and excluding ARL equity)
This does not factor in if Brixton increases their offer which I fully expect as Brixton would not lead with their highest offer.
TCI's assets have greatly appreciated from their cost as a result of inflation and increased real estate prices. Just look at their recent commercial building sale in August. TCI sold 600 Las Colinas commercial building after acquiring it 10 years ago at 42.2m for 74.5m. (75% increase) Most of TCI's assets have appreciated 50-75% over the past decade while its stock has remained fairly flat.
TCI's real estate at cost amounts to 431 million and their fair market value is closer to 650m.
This alone would make TCI's share price worth around 70$ when factoring in TCI's equity + real estate at FMV.
Brixton is tendering this offer for TCI as they realize the true value of real estate TCI is holding. I expect Brixton to increase their offer from 44.40$ up to as high as 55$ or 475m buyout which would still be undervaluing TCI's assets.
This does not factor in ARL's other joint ventures and property outside of TCI.
ARL has 30m of equity on the books outside of TCI. (equivalent of 2$ a share)
ARL Fair Value (383M buyout) =((383*.784)+30M)/ 16.15M shares = $20.45$ (47% upside)
ARL Fair Value (475M Buyout) =((475*.784)+30M)/ 16.15M shares = $24.92 (80% upside)
ARL has a 1.48m float so once people figure out this it will run to 18-19$ fast.
PT: 20$ at the minimum, may run higher once we get more press releases about buyout negotiations.
Disclosure: I am long ARL until buyout has been finalized.
$Gaming & Leisure Properties(GLPI.US)$ $MAA房產信托(MAA.US)$ $中國恒大(03333.HK)$