JPMorgan analyst Anthony Paolone downgraded Gaming and Leisure Properties (GLPI) to Neutral from Overweight with an unchanged price target of $54 after assuming coverage of the name. The firm is “constructive” on the prospects of net lease real estate investment trusts playing a “major role” in the financing of experiential concepts, and says Gaming and Leisure is a leader in the regional gaming segment of this arena. However, the stock has performed well so far this year, and there are other opportunities within the real estate stock group, the analyst tells investors in a research note. The firm sees the company’s regional gaming focus as garnering attention in an environment where trends are becoming more mixed.
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