Deutsche Bank analyst Carlo Santarelli downgraded Gaming and Leisure Properties to Hold from Buy with a price target of $52, down from $60. The analyst continues to view the gaming real estate investment trust complex as one that possesses “many favorable aspects” when compared to other REIT verticals. That being said, given the stock’s current valuation, a more challenging acquisition landscape, and increasing financing costs which are likely to drive slower funds from operations growth, the firm downgraded the shares.
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