GLPI vs. SBAC: Gaming and Leisure Properties vs. SBA Communications Stock Comparison

Company Profile

Gaming and Leisure Properties (GLPI) and SBA Communications (SBAC) both belong to the Specialized REITs industry, though GLPI is classified under Other Specialized REITs while SBAC falls under Telecom Tower REITs.

Both Gaming and Leisure Properties (GLPI) and SBA Communications (SBAC) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Capital efficiency shows on one side only: Gaming and Leisure Properties (GLPI) earns 18.69% on shareholders’ equity, ranked against its industry; SBA Communications (SBAC) has no ROE this period.

Neither Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) nor SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) and SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both Gaming and Leisure Properties (GLPI) at 4.13% and SBA Communications (SBAC) at 5.06% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) or SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Gaming and Leisure Properties (GLPI) at 34.39 carries current ratio above its industry’s typical mid-range, while SBA Communications (SBAC) at 0.19 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

Only one side’s leverage can be read here: Gaming and Leisure Properties (GLPI) carries debt-to-equity ratio of 1.57 against its industry range, while SBA Communications (SBAC) reports no figure this period.

Financial Strength Metrics

Dividends

Gaming and Leisure Properties (GLPI) at 8.11% offers top-quartile income, while SBA Communications (SBAC) at 2.52% sits in the bottom quartile — a wide gap in cash returned to shareholders.

An earnings-based payout ratio fits neither Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) nor SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either Gaming and Leisure Properties (GLPI) in Equity Real Estate Investment Trusts (REITs) or SBA Communications (SBAC) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

On P/S ratio, both Gaming and Leisure Properties (GLPI) at 6.88 and SBA Communications (SBAC) at 6.94 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

SBA Communications (SBAC) reports a negative P/B ratio of -4.09, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Gaming and Leisure Properties (GLPI) reports 2.28, ranking against industry peers normally.

Valuation Metrics