As previously reported, Raymond James analyst Collin Mings downgraded Kite Realty Group to Market Perform and removed his $20 price target. The analyst attributes the rating revision to the company's plans to sell up to $500M in assets to improve its portfolio quality and reduce leverage, suggesting that these efforts lag its peers. Mings further notes that while Kite Realty is maintaining its dividend payout, the payout ratio will be moving "materially higher" given the disposition activity and will become an overhang on investor sentiment as well as the company's redevelopment activity efforts.