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Penn National Gaming, Inc.

  • Too Many Converts to REITs Isn't a Good Thing

    By Reuben Brewer - May 6, 2013 | Tickers: CXW, IRM, PENN, RYN

    My concern about corporations converting to real estate investment trusts (REITs) to save on taxes was recently echoed by The New York Times. It's a big issue at a time when the government, at all levels, is trying raise more revenue. If you own a REIT, you need to monitor the conversion trend.

    What is a REIT

    Real estate investment trusts were created to allow small investors the opportunity more »

  • Right Time for Specialty REITs?

    By Howard Rothman - May 6, 2013 | Tickers: AMT, CXW, EPR, PENN, PSA

    Today’s Real Estate Investment Trusts are not your father’s REITs. Designed for businesses that run income-producing properties like office buildings, shopping centers and apartment complexes, a growing array of newcomers includes owners of everything from private prisons and cellphone towers to casinos and self-storage facilities.

    Because the REIT designation dramatically reduces corporate taxes, conversion by non-traditional businesses like these has become a hot trend on Wall Street. Analysts more »

  • $2 Billion Hedge Fund’s Small-Cap Picks

    By Meena Krishnamsetty - May 1, 2013 | Tickers: IGT, NFX, PENN, SM, WLT

    The most popular small cap stocks among hedge funds (which we define as those stocks with market capitalizations between $1 billion and $5 billion) generate an average excess return of 18 percentage points per year (see the details here). We think that this is because small cap stocks receive less attention from large institutional investors such as mutual funds, and so are more likely to be either undervalued or overvalued more »

  • This REIT Spin-Off Could Bring Out Big Value

    By Mike Thiessen - April 15, 2013 | Tickers: IRM, LAMR, PENN

    In late 2012, well-known casino and racetrack operator Penn National Gaming (NASDAQ: PENN) set the sector on fire by announcing its intention to spin off the gaming industry's first publicly traded REIT. With nearly 7 million square feet of available gaming space on 3,200 acres of wholly owned land, Penn's REIT would manage a large chunk of the company's current real estate holdings. Penn National Gaming more »

  • This REIT Spin-Off Could Bring Out Big Value

    By Mike Thiessen - April 15, 2013 | Tickers: IRM, LAMR, PENN

    In late 2012, well-known casino and racetrack operator Penn National Gaming (NASDAQ: PENN) set the sector on fire by announcing its intention to spin off the gaming industry's first publicly traded REIT. With nearly 7 million square feet of available gaming space on 3,200 acres of wholly owned land, Penn's REIT would manage a large chunk of the company's current real estate holdings. Penn National Gaming more »

  • REIT Spin-Off Could Bring Out Big Value

    By Mike Thiessen - April 12, 2013 | Tickers: IRM, LAMR, PENN

    In late 2012, well-known casino and racetrack operator Penn National Gaming (NASDAQ: PENN) set the sector on fire by announcing its intention to spin off the gaming industry's first publicly traded REIT. With nearly 7 million square feet of available gaming space on 3,200 acres of wholly owned land, Penn's REIT would manage a large chunk of the company's current real estate holdings. Penn National Gaming more »

  • Will Spinning Off a REIT Save J.C. Penney?

    By Salvatore "Sam" Mattera - March 22, 2013 | Tickers: JCP, PENN, SHLD

    Shares of J.C. Penney (NYSE: JCP) surged Monday, after analysts at ISI Group said that the retailer could create a REIT from 300 of its top stores. ISI Group argued that under this scenario, J.C. Penney shares could be worth as much as $46. Should J.C. Penney follow ISI Group’s recommendations? And how likely would such a move be?

    Creating REITs can benefit shareholders

    Creating a more »

  • 5 Stocks With Bullish Sentiment From This Underrated Indicator

    By Meena Krishnamsetty - March 3, 2013 | Tickers: CBI, PENN, SM, WLT, WLL

    Hedge fund sentiment is an underrated indicator of a stock’s bullish potential. At Insider Monkey, we’ve discovered strategies that retail investors have used to beat the market, and quite handily at that. Our small-cap strategy outpaced the broader indexes by 18% a year for more than a decade in our back tests, and since we started sharing these picks with the public, we've beaten the market by more »

  • Closing Tax Loopholes Still A Risk

    By Reuben Brewer - February 14, 2013 | Tickers: AB, CG, FUN, FIG, PENN, STON, BX

    President Obama used an interview just prior to the Super Bowl to highlight the need to raise more revenue through the tax code. He, once again, brought up the carried interest loophole as an example that helps the rich at the expense of funding the U.S. Government. This could be bad news for some companies.

    A Fiscal Cliff Punt

    The big news at the end of last year was more »

  • A Garbage REIT? Come On!

    By Reuben Brewer - February 11, 2013 | Tickers: CBS, LAMR, MAR, PENN, RHP, WM

    Waste Management (NYSE: WM), the largest trash hauling and recycling company in the United States, recently saw its shares jump 2% on a rumor that it was considering changing into a real estate investment trust (REIT). Would such a conversion make sense?

    REITs

    The real estate investment trust structure was created to allow individuals access to institutional level real estate. One of the best features of the REIT structure is more »

  • More REIT Conversions: Billboards

    By Reuben Brewer - February 1, 2013 | Tickers: CBS, LAMR, PENN

    CBS (NYSE: CBS) recently announced plans to turn its U.S. billboard business into a real estate investment trust (REIT). The move makes sense, particularly after Lamar (Nasdaq: LAMR) set plans to do exactly the same thing with its billboards. How should investors think about this evolving REIT sector?

  • Two Sigma Advisors’ Best Stock Picks

    By Meena Krishnamsetty - January 17, 2013 | Tickers: ACAS, ARCC, PDLI, PENN, TCO

    Small-cap stocks don’t get as much attention from analysts, which often leaves them less efficiently priced than their larger peers. As can be expected, hedge funds sometimes take advantage of this by dedicating their research teams to work on the small-cap space.

    In fact, retail investors can use hedge funds' top small-caps as a market-beating strategy; we’ve determined that the most popular small-cap stocks among hedge funds can more »

  • Are These Casino Stocks A Good Bet?

    By Bill Edson - January 11, 2013 | Tickers: MGM, PENN, RCL, WYNN

    There are no compelling casino stocks at current prices. There are several attractive growth stories, but investors should wait for lower valuations before placing their bets. Anything over a 15x multiple is high for casino stocks, which are highly cyclical and face both regulatory risk and stiff competition, in addition to higher taxes. Multiples (in the 20s) should be afforded to stalwarts like Smuckers (SJM), not cyclical gaming companies. 

    Valuation more »

  • Can You Profit From This New Capital Structure Trend In Gaming?

    By Bill Edson - December 14, 2012 | Tickers: CCL, MGM, PENN, RCL

    Most casino companies are real estate development companies that happen to place gaming and hospitality professionals in their buildings. There is new interest in splitting the real estate portion of the business from the hotel & casino portion of the business.

    This is a good move in general, but investors have to consider if these firms are overpriced or if there is a cheap way to get in on these potential more »

  • Ready to Try Your Hand With These Gaming Stocks?

    By Jonathan Lim - December 14, 2012 | Tickers: ASCA, ISLE, MGM, PENN, PNK

    Lady Luck and Mr. Market sure haven't been kind to investors in gaming stocks over the last five years. Once the darling of Wall Street, the industry was rejected like lukewarm food from a buffet steam table.

    Similarly, like many casino buffet patrons, casino operators gorged on easy money to saturate not only Las Vegas and Atlantic City, but also major metropolitan areas. Who would've thought that we more »

  • Tempting Fate in Canada and the United States

    By Reuben Brewer - December 13, 2012 | Tickers: BCE, ERF, LBLCF, PENN, PWE

    October 31st, 2006 is a date that is engrained in the minds of those who owned Canadian Royalty Trust. That was the day that the Canadian government decided, literally, overnight to tax a previously tax advantaged corporate structure. The market's response was, indeed, swift and painful, earning the event the nickname The Halloween Massacre. Could the same thing be brewing in the REIT space?

  • Ladies and Gentleman: Presenting the World’s First Casino REIT!

    By Meena Krishnamsetty - December 9, 2012 | Tickers: LVS, MGM, PENN, PNK, WYNN

    Penn National Gaming (NASDAQ: PENN) recently announced plans to be the first company to create a casino focused REIT. The associated tax advantages will allow Penn to strategically begin returning capital to shareholders. The plan is to split Penn into two publicly traded companies, one for its operations and another – the REIT – for its property.

    The way the current deal is proposed is that current Penn shareholders will receive shares more »

  • 5 Casino Stocks The Smart Money is Betting On

    By Meena Krishnamsetty - December 6, 2012 | Tickers: LVS, MPEL, MGM, PENN, WYNN

    After identifying the most popular stocks among hedge funds (see our entire Top 10 list here) according to their third quarter 13F filings, we have decided to break down the top five stocks that hedge funds love in the casino industry. The top casino stocks should perform well over the interim as a strengthening in the global economy drives increased discretionary spending and corporate travel. Our list includes the hundreds more »

  • Don't Bet On a Casino REIT

    By Reuben Brewer - December 6, 2012 | Tickers: AMT, IRM, LAMR, MAR, PENN, PCL, RYN, RHP, WY

    Penn National Gaming (NASDAQ: PENN) shares shot up after it announced plans to split itself into a gaming company and a real estate investment trust (REIT). This follows on the heels of a number of other companies announcing or making similar shifts. While it makes sense for some companies, it is probably best for investors to avoid Penn National's “casino REIT” when, and if, it comes along.

  • Penn National Reinvents the Gaming Sector

    By Josef Ray Dagatan - December 3, 2012 | Tickers: BYD, CZR, PENN, PNK

    Right after Penn National Gaming (NASDAQ: PENN) announced their plans to break up into two public companies, creating the first casino-focused Real Estate Investment Trust (REIT), shares of said company skyrocketed, surging more than 41%. As casino businesses continue their resurgence since 2010, this bold move by Penn National will surely ensure profit for investors in the sector.

    40 years after its first horse racing venue was created in 1971 more »

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