EarningsFirst quarter earnings tend to reflect lower percentage rents, higher professional fees, while the company’s lodging related operating assets are seasonally slower.
Industry Outlook2024 box office expectations are lower, which will likely pressure rent coverage and could potentially impact the company's revenue.
ValuationShares currently trade at 8.6x 2024E AFFO/share, below the net-lease REIT average of mid-12x, indicating that the market may be skeptical about the company's future growth prospects.