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Fly News Breaks for March 1, 2018
WRI
Mar 1, 2018 | 06:33 EDT
BofA/Merrill analyst Craig Schmidt upgraded Weingarten Realty to Buy and raised its price target to $32 from $31 telling investors he believes it will outperform REITs with high exposure to general merchandise-anchored centers due to 75% of its NOI is from higher exposure to grocery-anchored shopping centers. Schmidt said Weingarten's has relatively little exposure to troubled tenants, strong occupancy of 94.8%, and a redevelopment pipeline that is at an all-time high with $229M in active projects.
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