Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.67, read 2026-11-02
Ethical does not pass the values gate
Price39.83 USD
Fair value48.39
Ethical score70.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-26Read Markup39.55+0.7% to today ✓Markdown gives way to Markup
2026-10-02Read Markdown39.59+0.6% to today Distribution gives way to Markdown after a 14% slide in 9 weeks
2026-07-31Read Distribution45.85-13.1% to today ✓Markdown gives way to Distribution
2026-07-02Read Markdown47.47-16.1% to today ✓First review on file: Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Gaming and Leisure Properties Inc holds its Markup at $39.83. Consolidating, no directional conviction, held for 11 days.
As held on the ledger · 2026-11-04
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 11 days
Price at the screen
$39.83
Valuation
11.56 trailing · 11.84 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.68
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
58.15%
Below 33%
Interest-bearing debt is 58.2% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
21.55%
Below 49%
Money owed to the company is 21.5% of assets, under the 49% limit.
Pass
Revenue purity
1.81%
Below 5%
Only 1.8% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Gaming and Leisure Properties's business is in a permissible area, but its interest-bearing debt is about 58% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
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Today GLPI does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 19% discount to our $48.39 fair value, narrow competitive moat, 9.00% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 17.7% discount to the base estimate.
Where our models see it going: fair-value estimate $48.39, with a range of $36.00 to $59.71, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Owning the Floor Under the Slot Machines
Picture the landlord who collects steady rent from every casino floor while the operators handle the tables, the staff and every repair bill. Gaming and Leisure Properties follows exactly that model through triple-net leases on US gaming properties. It posts a 55% profit margin and 19% ROE on 6% revenue growth, yet our fair value sits only 6% above the current price and the opportunity rating is none.
The narrow moat and modest growth leave little room for outperformance. At 13.5 times forward earnings the valuation already prices in the reliable cash flows from its tenants, and the ethical screen raises no flags. Analyst targets around 54 imply some further upside, but nothing that clears our hurdle for a clear opportunity.
Gaming exposure still carries cyclical risk and tenant concentration, even with triple-net protection. Interest-rate moves or a prolonged slowdown in visitor spending could quickly pressure both rents and valuations. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
GLPI trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup$39.83+0.7%Entry 16
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54.
2026-10-29Markup$39.55+0.0%Entry 15
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markup$39.55+0.0%Entry 14
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markup$39.55+0.0%Entry 13
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markup · changed$39.55+0.0%Entry 12
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$39.55+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Markdown$39.55+3.1%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 3.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Markdown$38.35+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markdown$38.35+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$38.35-3.1%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (23 analysts) rates it buy, with a mean price target of $54.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
