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Fly News Breaks for January 6, 2020
KRG
Jan 6, 2020 | 07:24 EDT
BTIG analyst Michael Gorman downgraded Kite Realty Group to Neutral from Buy. In a research note to investors, Gorman says that as a result of its strong performance, the valuation gap to the group has closed materially and he is moving to the sidelines. Though Kite has made improvements, and he still likes management, Gorman tells investors in a research note that 2020 FFO per share will be down due to the large amount of asset sales this year, and the company will have to re-establish a strategy for above-average growth going forward.
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