Gaming and Leisure (GLPI – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Anthony Paolone from J.P. Morgan downgraded the rating on the stock to a Hold and gave it a $54.00 price target.
Anthony Paolone has given his Hold rating due to a combination of factors. Gaming and Leisure Properties (GLPI) has a strong position in the net lease REIT sector, particularly in the regional gaming market, and maintains a robust balance sheet with a significant scale and a diversified portfolio. The company also offers an attractive dividend yield of around 6%, and its earnings growth is expected to align with or surpass its peers in the coming years.
Despite these strengths, the stock has already performed well this year, and Paolone sees more compelling opportunities elsewhere within the real estate sector. Additionally, GLPI’s focus on regional gaming could face challenges due to mixed trends in certain markets. While the long-term outlook for GLPI remains positive, the current valuation and market conditions lead Paolone to assign a Neutral rating, maintaining a price target of $54 per share.
Paolone covers the Real Estate sector, focusing on stocks such as Alexandria Equities, Howard Hughes Holdings, and Safehold. According to TipRanks, Paolone has an average return of 2.0% and a 51.78% success rate on recommended stocks.
In another report released on March 27, Scotiabank also maintained a Hold rating on the stock with a $49.00 price target.