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Gaming REITs gaining investor acceptance, Truist says
Truist Securities’ Barry Jonas said gaming REITs have posted low single digit increases in gaming revenues even amid macro uncertainty.
Truist Securities managing director Barry Jonas said gaming-focused REITs have moved from being misunderstood to gaining broad acceptance among the REIT investment community, describing the sector as an asset class that can deliver a steady rental stream.
In an interview with Nareit, Jonas said investors increasingly view gaming REITs as durable because many operators are sizable and, he said, most are public and audited, with the sector having not seen major defaults or missed payments.
Jonas tied the resilience to how consumer demand plays out in a K-shaped recovery, saying overall gaming revenues have still grown at low single-digit rates despite macro uncertainty.
He also noted that the gaming REIT model provides a diversification benefit for investors, aligning with REITs’ typical profile of high, steady dividend income and long-term capital appreciation, as described by Nareit.