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Fly News Breaks for January 6, 2020
KRG
Jan 6, 2020 | 07:06 EDT
BofA analyst Craig Schmidt upgraded Kite Realty Group to Neutral from Underperform with a price target of $20.50, up from $17.00 as he sees better earnings visibility and improved portfolio quality following the company's asset sales "tranformation." While he favors grocery anchored portfolios and Kite currently generates 71% of its annualized base rent from grocery-anchored centers, Schmidt said he tempers his outlook given Kite's low household density compared to peers.
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