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GDI Property Group
Real Estate · Real Estate Services
Updated just now
$0.61
MARKET CAP
$331.99M
P/E RATIO
8.0
DIV. YIELD
8.2%
FRANKING
—
GDI has red flags on value, looks strong on dividends — see the full breakdown
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Gaming and Leisure Properties, Inc. is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
View full descriptionThe Warsi Rating combines two proven approaches: value investing principles and dividend strategy. A stock must score 70+ on both to be rated Solid or higher.
$1.03
For 6% dividend yield
Business quality and balance-sheet durability.
How much the company owes vs. what it owns
Annual dividends as percentage of stock price
Gaming and Leisure Properties, Inc. is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. Gaming and Leisure Properties, Inc. was established on february 13 2013 and incorporated in Pennsylvania.
Who owns the company's shares and how much leadership has at stake
Management's wealth moves with yours
Professional fund managers have done their homework and chosen to own this
Shares freely traded on the ASX by individual investors like you
A healthy mix — insiders hold 12.6% (they have skin in the game) and professional fund managers hold 33.9% (they’ve done their homework and like the business). This balance is a good sign for long-term investors.
Current Snapshot
Insider %
12.6%
Institutional %
33.9%
Float %
53.5%
Why It Matters
Ownership mix affects governance incentives, liquidity, and share-price behaviour under large portfolio rebalancing flows.
Formula
Public Float (%) = 100 - Insider Ownership (%) - Institutional Ownership (%)Method
Use reported ownership percentages, convert to percentage terms, and compute remaining public float as the residual.
Worked Example
If insiders own 12.6% and institutions own 33.9%, public float is 53.5%.
How to Interpret
Higher insider ownership can improve alignment of incentives, while dominant institutional concentration can amplify short-term price moves.
A healthy mix — insiders hold 12.6% (they have skin in the game) and professional fund managers hold 33.9% (they’ve done their homework and like the business). This balance is a good sign for long-term investors.
Sources
| Date | Insider | Type | Shares | Value |
|---|---|---|---|---|
| 29 Aug 2025 | Burns (Stephen Geoffrey) Independent Non-Executive Director | Unknown | 1.5M | — |
| 30 June 2025 | Garland (John) Divisional Officer | Unknown | 220K | — |
| 30 June 2025 | Ockenden (Sally) Divisional Officer | Unknown | 681K | — |
| 30 June 2025 | Williams (David) Chief Financial Officer | Unknown | 84K | — |
Company insiders have been net buyers of shares over the past 12 months. This may indicate management confidence in future prospects.
Value analysis may be affected by missing data.
Market data sourced from third-party financial data providers. Analysis generated using Warsi Criteria — proprietary scoring algorithms for value investing and dividend income analysis. Not financial advice. Learn how we analyse stocks →
Acceptable. Debt level (0.59) is within this Buffett-inspired framework's limit of 2.
Current Snapshot
Current D/E
0.59x
Industry Limit
2.00x
Headroom
+1.41x
Why It Matters
Debt-to-equity shows balance-sheet risk. Lower leverage usually means more flexibility when earnings soften.
Formula
Total Debt / Shareholders' EquityMethod
Compare current D/E against the industry threshold used in the scoring framework, then assess remaining headroom.
Worked Example
This company's D/E is 0.59, meaning it carries 59 cents of debt for every $1 of equity. The real estate investment trusts limit is 2.00, leaving 1.41 of headroom.
How to Interpret
Lower values generally imply lower refinancing pressure and lower dividend stress in downturns.
Low debt means this company isn't at risk of cutting dividends to service loans during downturns. Your income stream is protected by a strong balance sheet.
Sources
Profit generated per $1 of shareholder investment
4.3% average is below the 8% threshold. This suggests the business may lack a durable competitive advantage.
Current Snapshot
10Y Avg
4.3%
Threshold
8.0%
Worst Year
-0.8%
Why It Matters
ROE shows how effectively management turns shareholder capital into profit. High and stable ROE can signal pricing power, cost discipline, or both.
Formula
Net Income / Shareholders' Equity x 100Method
Use the 10-year average ROE and review the weakest year to check whether returns stayed resilient across cycles.
Worked Example
This company's 10-year average ROE is 4.3%, meaning each $1 of shareholder equity generates $0.04 in annual profit. The threshold is 8%, and the worst single year was -0.8%.
How to Interpret
Higher and steadier ROE generally supports stronger long-term compounding. Large drawdowns in weak years can point to fragility.
Lower ROE means your investment compounds more slowly. At 4.3%, this business needs more capital to generate the same returns as competitors. Consider whether other strengths (yield, stability) compensate for weaker profitability.
Sources
Short-term assets vs. short-term debts
Current ratio of 0.43 is below 1.0 - company may struggle to pay short-term obligations.
Current Snapshot
Current Ratio
0.43x
Warning Floor
1.00x
Target
1.50x
Why It Matters
Liquidity supports operational stability. Companies with weak liquidity can face pressure even when long-term fundamentals are sound.
Formula
Current Assets / Current LiabilitiesMethod
Compare the current ratio to the warning floor and target level used in the framework.
Worked Example
This company's current ratio is 0.43x — it has $0.43 in short-term assets for every $1 of short-term liabilities. The target is 1.5x, with a warning floor at 1.0x.
How to Interpret
Ratios above the target suggest healthier short-term resilience; ratios below 1.0x can indicate immediate funding risk.
Tight liquidity means the company may need to borrow or sell assets to pay bills. Dividends are often the first expense cut when cash runs low.
Sources
Real cash left after running the business
Negative free cash flow means the company is consuming cash. May need to raise debt or equity to fund operations.
Current Snapshot
Current FCF
$-9M
Pass Rule
> $0
Status
Negative
Why It Matters
Free cash flow is the cash available after core operating and capital needs. It is central to dividend capacity.
Formula
Operating Cash Flow - Capital ExpendituresMethod
Review whether free cash flow is consistently positive and whether it is sufficient relative to dividends and debt needs.
Worked Example
This company generated $-9M in free cash flow — cash left after operating costs and capital expenditure. Negative FCF means the company is consuming more cash than it generates.
How to Interpret
Persistently negative free cash flow can force reliance on borrowing or equity issuance to maintain payouts.
Negative cash flow means dividends may require borrowing - an unsustainable situation. The company is spending more cash than it generates, which can't continue indefinitely.
Sources
Price versus estimated intrinsic value and required return thresholds.
What percentage of the stock price comes back as earnings each year
Excellent value. 12.6% earnings yield significantly exceeds the 7.5% required return.
Current Snapshot
Current Yield
12.6%
Required Yield
7.5%
Spread
+5.1pp
Why It Matters
Earnings yield reframes valuation as return on price paid. It helps compare equity earnings power against lower-risk alternatives.
Formula
(Earnings per Share / Stock Price) x 100Method
Calculate current earnings yield, then compare it to the required yield for the stock's industry setting.
Worked Example
With EPS of $0.08 and a share price of $0.61, earnings yield is 12.6%. The required yield for this industry is 7.5% (based on 4.5% government bond rate plus a risk premium).
How to Interpret
A yield above the required level suggests better valuation support; below it indicates thinner compensation for equity risk.
Strong earnings yield means you're well-compensated for owning shares instead of buying safe bonds. The business is priced to deliver solid returns.
Sources
Years of earnings needed to retire all long-term debt
Would take 46.5 years of earnings to pay off long-term debt — above the 10-year threshold. Common for this sector's capital structure.
Current Snapshot
Payoff Years
46.5yr
Target Years
10yr
Gap
-36.5yr
Why It Matters
Debt payoff years converts leverage into an intuitive time measure, making debt burden easier to compare across stocks.
Formula
Long-Term Debt / Average Net Income (3yr)Method
Use current long-term debt and the 3-year average net income to smooth one-off profit noise.
Worked Example
With $346M in long-term debt and $7M in average annual earnings (3yr), it would take 46.5 years of earnings to pay off all debt. The real estate investment trusts threshold is 10 years.
How to Interpret
Lower values generally indicate stronger debt capacity. Very high values can constrain dividend resilience.
Higher leverage is structural in this sector, but it means interest payments reduce the pool available for dividends. Monitor debt levels during economic downturns.
Sources
Consistency of profits over time
Is the business growing — and is debt being managed responsibly?
Revenue and debt both growing — check whether debt is funding productive growth or covering shortfalls. Sustainable dividends require revenue to outpace debt over time.
Current Snapshot
Revenue Change
+26.4%
Debt Change
+85.1%
Trend State
Mixed
Why It Matters
Revenue trend shows whether the business is expanding or contracting. Debt trend adds context on whether growth is being funded conservatively.
Formula
Revenue Change (%) = (Latest Revenue - Earliest Revenue) / |Earliest Revenue| x 100; Debt Change (%) = (Latest Debt - Earliest Debt) / |Earliest Debt| x 100Method
Map annual revenue history and, where relevant, annual debt history. For financial companies, debt is excluded because deposits and reserves distort this signal.
Worked Example
Revenue changed by +26.4% across the displayed period, while debt changed by +85.1%.
How to Interpret
Rising revenue with stable or falling debt is typically stronger than rising revenue funded by rapidly rising leverage.
Revenue and debt both growing — check whether debt is funding productive growth or covering shortfalls. Sustainable dividends require revenue to outpace debt over time.
Sources
10.00% yield meets Barsi's 6% minimum. Based on 6-year average, not one-time spikes.
Current Snapshot
6Y Avg Yield
10.0%
6% Requirement
6.0%
Gross Yield
N/A
Why It Matters
Yield translates dividend income into a percentage of the price paid, which is central to income-first screening.
Formula
Annual Dividends per Share / Stock Price x 100Method
Use the 6-year average annual dividend for consistency and compare the result with the 6% framework requirement.
Worked Example
With a 6-year average annual dividend of $0.06 and a share price of $0.61, the Barsi yield is 10.0%. The minimum requirement is 6%.
How to Interpret
Higher sustainable yield improves upfront income, but unusually high yields may reflect elevated risk or weak coverage.
This yield provides meaningful income that can beat inflation and compound over time. With DRIP enabled, this income can snowball into significant wealth.
Sources
Track record of consistent dividend payments
| Ex-Date | Pay Date | Gross | Franking | Net | Credit |
|---|---|---|---|---|---|
| ~1 July 2026Est | ~27 July 2026 | ~$0.03 | 0% | ~$0.03 | $0.00 |
| ~31 Dec 2026Est | ~1 Mar 2027 | ~$0.03 | 0% | ~$0.03 | $0.00 |
| Ex-Date | Pay Date | Gross | Franking | Net | Credit |
|---|---|---|---|---|---|
| 30 Dec 2025Interim | 27 Feb 2026 | $0.03 | 0% | $0.03 | $0.00 |
| 27 June 2025Final | 25 July 2025 | $0.03 | 0% | $0.03 | $0.00 |
| 30 Dec 2024Interim | 27 Jan 2025 | $0.03 | 0% | $0.03 | $0.00 |
| 27 June 2024Final | 25 July 2024 | $0.03 | 0% | $0.03 | $0.00 |
| 28 Dec 2023Interim | 25 Jan 2024 | $0.03 | 0% | $0.03 | $0.00 |
| 29 June 2023Final | 27 July 2023 | $0.03 | 0% | $0.03 | $0.00 |
| 29 Dec 2022Interim | 26 Jan 2023 | $0.03 | 0% | $0.03 | $0.00 |
| 29 June 2022Final | 27 July 2022 | $0.04 | 0% | $0.04 | $0.00 |
| 30 Dec 2021Interim | 27 Jan 2022 | $0.04 | 0% | $0.04 | $0.00 |
| 29 June 2021Final | 27 July 2021 | $0.04 | 0% | $0.04 | $0.00 |
9 years of consistent dividends meets Barsi's 6-year minimum requirement.
Current Snapshot
History
9yr
Predictability
Moderate
Payout Health
One-off event
Why It Matters
Payment consistency is a direct test of dividend reliability. Large cuts or skips often appear before confidence recovers.
Formula
Consecutive Years = count of years with dividend payments and no disqualifying skip/cut eventsMethod
Require at least 6 years of history, then check for skipped years and large cuts, allowing approved systemic-event exceptions.
Worked Example
This company has 9 years of dividend history (2017–2025). No suspensions detected — 9 consecutive years of payments. Predictability: Moderate. Payout health: One-off event. The minimum requirement is 6 years.
How to Interpret
Longer uninterrupted records generally signal stronger income reliability than high yield alone.
A consistent track record through recent years gives confidence your income will continue. This company has shown commitment to shareholder returns.
Sources
Highest price to lock in 6% yield
Priced well below ceiling. 41% below means you're locking in well over 6% yield.
Current Snapshot
Current Price
$0.61
Max Buy Price
$1.03
Delta
+40.3%
Why It Matters
The price ceiling links valuation discipline to income targets by defining the price that aligns with a 6% yield target.
Formula
6-Year Average Annual Dividend / 0.06Method
Use the 6-year average dividend (not one year) and divide by 0.06 to estimate the maximum entry price for target yield.
Worked Example
With a current price of $0.61 and a ceiling of $1.03, the entry is 40.3% below the ceiling.
How to Interpret
Prices below the ceiling imply a historical yield above 6%; prices above it imply a lower historical yield at entry.
Buying this far below the ceiling locks in a yield well above 6% based on proven historical dividends. Your income starts strong from day one.
Sources
Industry category of the business
Real Estate is not a BESST sector. Non-BESST stocks receive a lower base score but can still qualify with exceptional dividend metrics.
Current Snapshot
Industry
Real Estate Services
BESST Match
No
Score Impact
No bonus
Why It Matters
Sector classification helps contextualise risk and demand durability, which can materially affect dividend stability.
Formula
BESST Match = Sector in {Banks, Energy, Sanitation, Insurance, Telecom}Method
Match company sector or industry against BESST categories. A match adds scoring support but does not replace core dividend checks.
Worked Example
This company operates in Real Estate Services (Real Estate sector). It does not match a BESST sector, so it receives the standard base score. Non-BESST stocks can still qualify with strong dividend metrics.
How to Interpret
BESST alignment is a positive context signal. Non-BESST stocks can still qualify with strong yield and dividend consistency.
Non-essential businesses face demand drops during recessions — discretionary spending is first to be cut. This increases cyclical risk for dividends, but companies with decades of consistent payments can still demonstrate durability.
Sources
How much of a company's earnings are paid out as dividends
A 69% payout is in the sustainable range (30–75%) — the company balances rewarding shareholders with reinvesting for growth. This gives the price ceiling calculation a stable base, which is a healthy sign for long-term dividend investors.
Current Snapshot
Latest Ratio
68.8%
Healthy Range
30%-75%
Zone
Healthy
Why It Matters
Payout ratio links dividends to earnings capacity and helps evaluate whether current distributions are likely to remain supportable.
Formula
Payout Ratio (%) = (Annual Dividend per Share / Earnings per Share) x 100Method
Calculate year-by-year payout ratios where EPS is positive, classify each year by sustainability zone, and compare with the current TTM ratio.
Worked Example
$0.05 dividend / $0.08 EPS equals 64.8% payout ratio.
How to Interpret
Ratios in the middle range are usually more sustainable than very high ratios. Values above 100% indicate dividends exceeded earnings in that period.
A 69% payout is in the sustainable range (30–75%) — the company balances rewarding shareholders with reinvesting for growth. This gives the price ceiling calculation a stable base, which is a healthy sign for long-term dividend investors.
Sources
1 loss year(s) found with only 4 years of data. Limited data requires 100% positive EPS - industry exemptions don't apply.
Current Snapshot
Positive Years
9/4
Allowed Losses
0 (limited)
EPS CAGR
-2.6%
Why It Matters
Consistency in EPS helps distinguish resilient earnings power from one-off performance spikes.
Formula
Positive EPS Years / Available EPS YearsMethod
For 8+ years of data, apply industry-specific loss tolerance. For limited data, every available year must be positive.
Worked Example
This company reported positive earnings in 9 of the last 4 years, with 1 loss year. With only 4 years of data, every year must be positive. EPS growth rate (CAGR) is -2.6%.
How to Interpret
Fewer loss years and stronger EPS continuity generally improve confidence in future dividend and valuation assumptions.
Loss years signal unpredictable earnings. During loss periods, companies often cut dividends to preserve cash. Your income could be at risk in the next downturn.
Sources
Eureka Group Holdings Limited
Servcorp Limited
Abacus Group
Finbar Group Limited
Cedar Woods Properties Limited
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