The nature of the long-period radio transient GLEAM-X J162759.5−523504.3 (hereafter GLEAM-X J1627) is discussed. We try to understand both its radio emission and pulsation in the neutron star scenario as an alternative to the white dwarf model. We think that (1) from the radio emission point of view, GLEAM-X J1627 can be a radio-loud magnetar; (2) from the rotational evolution point of view, GLEAM-X J1627 is unlikely to be an isolated magnetar; (3) the 1091 s period is unlikely to be the precession period; (4) GLEAM-X J1627 may be a radio-loud magnetar spun down by a fallback disk; (5) the pulsar death line is modified due to the presence of a fallback disk or a twisted magnetic field. In both cases, a higher maximum acceleration potential can be obtained. This may explain why GLEAM-X J1627 is still radioactive with such a long pulsation period; and (6) general constraints on the neutron star magnetic field and initial disk mass are given analytically. Possible ways to discriminate between different modelings are also discussed.