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Actionable news in PLNT: Planet Fitness Inc,

Planet Fitness stock near record high, real estate 'gains' without 'retail pains'

Shares of Planet Fitness were up more than 7 percent midday Thursday after the company beat top- and bottom-line second-quarter expectations.

In a call with investors, executives of the low-cost gym chain pointed to its appeal to casual exercisers and ability to snap up vacant swaths of retail real estate. Planet Fitness' stock traded as high as $25.01, on pace to surpass its all-time closing high of $24.54 set Nov. 11, 2016, according to FactSet.

"There are not a lot of retailers out there taking down 20,000-square-foot boxes [of real estate] a year," the company's chief financial officer, Dorvin Lively, said. "One of the benefits we get is we're one of the first ones to get called now, when something becomes...