Extra Space Storage (NYSE:EXR) vs. Gaming and Leisure Properties (NASDAQ:GLPI) Head-To-Head Comparison

Gaming and Leisure Properties (NASDAQ:GLPI) and Extra Space Storage (NYSE:EXR) are both large-cap real estate companies, but which is the superior investment? We will contrast the two businesses based on the strength of their institutional ownership, earnings, risk, profitability, valuation, analyst recommendations and dividends.

Risk & Volatility

Gaming and Leisure Properties has a beta of 0.66, indicating that its stock price is 34% less volatile than the S&P 500. Comparatively, Extra Space Storage has a beta of 1.18, indicating that its stock price is 18% more volatile than the S&P 500.

Earnings and Valuation

This table compares Gaming and Leisure Properties and Extra Space Storage”s revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
Gaming and Leisure Properties	$1.59 billion	7.77	$825.11 million	$3.41	12.48
Extra Space Storage	$3.38 billion	9.01	$974.00 million	$4.53	31.81

Extra Space Storage has higher revenue and earnings than Gaming and Leisure Properties. Gaming and Leisure Properties is trading at a lower price-to-earnings ratio than Extra Space Storage, indicating that it is currently the more affordable of the two stocks.

Analyst Recommendations

This is a breakdown of recent ratings for Gaming and Leisure Properties and Extra Space Storage, as provided by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Gaming and Leisure Properties	0	6	6	0	2.50
Extra Space Storage	0	9	7	0	2.44

Gaming and Leisure Properties currently has a consensus price target of $49.91, indicating a potential upside of 17.24%. Extra Space Storage has a consensus price target of $148.53, indicating a potential upside of 3.09%. Given Gaming and Leisure Properties’ stronger consensus rating and higher possible upside, analysts plainly believe Gaming and Leisure Properties is more favorable than Extra Space Storage.

Dividends

Gaming and Leisure Properties pays an annual dividend of $3.28 per share and has a dividend yield of 7.7%. Extra Space Storage pays an annual dividend of $6.48 per share and has a dividend yield of 4.5%. Gaming and Leisure Properties pays out 96.2% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Extra Space Storage pays out 143.0% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Gaming and Leisure Properties has raised its dividend for 2 consecutive years and Extra Space Storage has raised its dividend for 1 consecutive years. Gaming and Leisure Properties is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Insider and Institutional Ownership

91.1% of Gaming and Leisure Properties shares are owned by institutional investors. Comparatively, 99.1% of Extra Space Storage shares are owned by institutional investors. 4.1% of Gaming and Leisure Properties shares are owned by insiders. Comparatively, 1.0% of Extra Space Storage shares are owned by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.

Profitability

This table compares Gaming and Leisure Properties and Extra Space Storage’s net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Gaming and Leisure Properties	59.01%	19.17%	7.29%
Extra Space Storage	27.80%	6.70%	3.27%

Summary

Gaming and Leisure Properties beats Extra Space Storage on 9 of the 17 factors compared between the two stocks.

About Gaming and Leisure Properties

Gaming & Leisure Properties, Inc. engages in the provision of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.

About Extra Space Storage

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, D.C. The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.