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Held by 569 of 5,944 reporting institutions (97th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $39.59 today, the market must believe free cash flow compounds 7.4%/yr for a decade (off $940M normalized FCF).
The market's 7.4% is more optimistic than its 9-yr track record.
2-stage DCF · 0.28B shares · net debt $7.2B
mean 10.0% · volatility σ 34% · implied rate exceeded in 5/9 yrs
Central path = implied 7.4%/yr growth; shaded band = ±1σ (34%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend exceeds free cash flow (106%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $872M dividends + $0 buybacks = $872M returned on $825M FCF.
1 consecutive years of dividend increases · 3%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 7%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$81000 of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2014-12-31 (10-K/A).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~5.2% on $7.2B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-18
Where each multiple sits in its own 13-yr range · 40th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 1.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | 6.5 | 4.9 | 4.4 | 0.0 | 0.0 | — | — |
| SG&A | 6.7 | 5.7 | 5.9 | 5.0 | 3.9 | 3.9 | 3.9 | 4.0 |
| Operating Income | 56.2 | 62.2 | 70.2 | 69.2 | 78.5 | 74.2 | 73.8 | 75.3 |
| Income Tax | 0.5 | 0.4 | 0.3 | 2.3 | 1.3 | 0.1 | 0.1 | 0.1 |
| Net Income | 32.2 | 33.9 | 43.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on GLPI: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-18
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.59B 100.0% | $1.53B 100.0% | $1.44B 100.0% | $1.31B 100.0% | $1.22B 100.0% | $1.15B 100.0% | $1.15B 100.0% | $1.06B 100.0% | $971.3M 100.0% | $828.3M 100.0% |
| Cost of Revenue | — | — | $0 0.0% | $0 0.0% | $53.0M 4.4% | $56.7M 4.9% | $74.7M 6.5% | — | — | — |
| Selling, General & Admin | $63.5M 4.0% | $59.6M 3.9% | $56.5M 3.9% | $51.3M 3.9% | $61.2M 5.0% | $68.6M 5.9% | $65.4M 5.7% | $70.8M 6.7% | $63.2M 6.5% | $71.4M 8.6% |
| Total Operating Expenses | $393.3M 24.7% | $400.9M 26.2% | $371.7M 25.8% | $281.8M 21.5% | $374.6M 30.8% | $343.9M 29.8% | $436.1M 37.8% | $461.9M 43.8% | $365.8M 37.7% | $347.6M 42.0% |
| Operating Income | $1.20B 75.3% | $1.13B 73.8% | $1.07B 74.2% | $1.03B 78.5% | $841.8M 69.2% | $809.3M 70.2% | $717.4M 62.2% | $593.8M 56.2% | $605.5M 62.3% | $480.6M 58.0% |
| Interest Expense | $373.9M 23.4% | $366.9M 24.0% | $323.4M 22.5% | $309.3M 23.6% | $283.0M 23.3% | $282.1M 24.5% | $301.5M 26.1% | $247.7M 23.5% | $217.1M 22.3% | $185.9M 22.4% |
| Other Income (Expense), net | -$348.9M -21.9% | -$320.9M -21.0% | -$311.3M -21.6% | -$309.6M -23.6% | -$279.3M -23.0% | -$299.7M -26.0% | -$321.8M -27.9% | -$249.3M -23.6% | -$215.1M -22.1% | -$183.8M -22.2% |
| Pretax Income | $852.6M 53.5% | $809.8M 52.9% | $757.4M 52.6% | $720.3M 54.9% | $562.4M 46.2% | $509.6M 44.2% | $395.6M 34.3% | $344.5M 32.6% | $390.4M 40.2% | $296.9M 35.8% |
| Income Tax Expense | $2.2M 0.1% | $2.1M 0.1% | $2.0M 0.1% | $17.1M 1.3% | $28.3M 2.3% | $3.9M 0.3% | $4.8M 0.4% | $5.0M 0.5% | $9.8M 1.0% | $7.5M 0.9% |
| Net Income | $825 0.0% | $785 0.0% | $734 0.0% | $685 0.0% | $534 0.0% | $505.7M 43.9% | $390.9M 33.9% | $339.5M 32.2% | $380.6M 39.2% | $289.3M 34.9% |
| Per Share | ||||||||||
| EPS (Basic) | $2.95 | $2.87 | $2.78 | $2.71 | $2.27 | $2.31 | $1.82 | $1.59 | $1.80 | $1.62 |
| EPS (Diluted) | $2.95 | $2.87 | $2.77 | $2.70 | $2.26 | $2.30 | $1.81 | $1.58 | $1.79 | $1.60 |
| Weighted Avg Shares (Basic) | 279.6M | 272.8M | 264.1M | 252.7M | 235.5M | 218.8M | 214.7M | 213.7M | 210.7M | 178.6M |
| Weighted Avg Shares (Diluted) | 280.0M | 273.5M | 265.0M | 253.8M | 236.2M | 219.8M | 215.8M | 214.8M | 212.8M | 180.6M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 240 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELL | $159.4B | 164.7× | — | 14.7× | 35.6% | 40.1% | 8.9% | 2.3% | 1.6% | — | 1,425 |
| PLD | $125.3B | 37.9× | — | 14.3× | 7.2% | — | 37.9% | 6.3% | 3.8% | — | 1,592 |
| XHG | $124.6B | — | — | 2429.0× | 24.9% | 2.2% | -205% | 85.0% | 88.3% | — | 1 |
| EQIX | $100.3B | 74.2× | 25.6× | 10.9× | 5.4% | 51.1% | 14.6% | 9.5% | 8.7% | 0.3× | 1,229 |
| AMT | $81.1B | 32.2× | 14.0× | 7.6× | 5.1% | — | 24.7% | 72.0% | 37.3% | 0.6× | 1,662 |
| SPG | $67.0B | 14.5× | — | 10.5× | 6.7% | — | 84.3% | 103% | 15.9% | — | 1,242 |
| O | $52.9B | 48.4× | — | 9.2× | 9.1% | — | 18.4% | 2.7% | 2.7% | — | 1,389 |
| PSA | $52.0B | 32.9× | — | 10.8× | 2.7% | — | 37.0% | 19.3% | 9.1% | — | 1,045 |
| CBRE | $41.3B | 36.2× | — | 1.0× | 13.4% | 18.7% | 2.9% | 13.0% | 7.1% | — | 1,020 |
| VTR | $41.2B | 160.5× | — | 7.1× | 18.5% | — | 4.5% | 2.1% | 1.0% | — | 891 |
| IRM | $33.8B | 233.3× | 22.9× | 4.9× | 12.2% | — | 2.2% | -15.5% | 1.0% | 7.5× | 1,043 |
| EXR | $28.9B | 29.8× | 13.5× | 8.6× | 3.7% | 72.8% | 28.8% | 7.3% | 7.3% | — | 722 |
| AVB | $26.6B | 25.6× | 12.2× | 8.7× | 4.4% | — | 34.7% | 9.1% | 5.0% | 3.2× | 715 |
| EQR | $25.6B | 23.0× | — | — | — | — | — | 10.1% | 5.8% | — | 681 |
| VICI | $25.4B | 9.1× | — | 6.3× | 4.1% | 99.3% | 69.3% | 10.0% | 6.2% | — | 898 |
| SBAC | $18.9B | 18.2× | 21.4× | 6.7× | 5.1% | 75.5% | 37.4% | -21.7% | 13.1% | 8.7× | 636 |
| BEKE | $17.9B | 135.7× | 38.6× | 1.3× | 5.6% | 21.4% | 3.2% | 4.5% | 4.5% | — | 197 |
| ESS | $17.4B | 26.0× | 11.5× | 9.2× | 6.4% | 69.9% | 37.2% | 12.7% | 12.7% | — | 582 |
| INVH | $16.4B | 28.0× | — | 6.0× | 4.2% | — | 21.5% | 6.2% | 3.3% | — | 560 |
| JLL | $15.8B | 20.5× | 11.8× | 0.6× | 11.4% | — | 3.0% | 10.6% | 10.4% | 0.1× | 615 |
| WY | $15.3B | 47.2× | 16.4× | 2.2× | -3.1% | 14.8% | 4.7% | 3.4% | 2.2% | 4.5× | 868 |
| KIM | $15.2B | — | 16.2× | 7.1× | 5.1% | — | 27.3% | 5.6% | 3.2% | 5.5× | 633 |
| HST | $15.0B | 19.9× | — | 2.5× | 7.6% | — | 12.5% | 11.7% | 9.8% | — | 656 |
| LAMR | $14.9B | 25.4× | — | 6.6× | 2.7% | 67.0% | 25.9% | 57.3% | 13.2% | — | 655 |
| NLY | $14.9B | 7.2× | — | — | — | — | — | 12.6% | 12.6% | — | 743 |
| GLPI | $11.2B | 13.4× | 12.4× | 7.0× | 4.1% | — | 51.7% | 17.8% | 7.0% | 4.9× | 569 |
Peers = companies sharing GLPI's sector (Real Estate) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.