KeyBanc raised the firm’s price target on Kite Realty (KRG) to $31 from $28 and keeps an Overweight rating on the shares. The firm says retail REITs continue to gain momentum given the ongoing recovery in retail property fundamentals. In addition, following many years highlighted by relatively lackluster external growth, the sector’s improving cost of capital appears to be supporting an increase in transaction activity as more REITs and private equity investors are jockeying to capitalize on accretive investment opportunities. Moreover, KeyBanc thinks sentiment and investor exposure toward the group has room to improve.
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Read More on KRG:
- Kite Realty Group Trust Reports Strong Q3 2024 Results
- Kite Realty Group Highlights Financial Strength and Growth
- Kite Realty sees FY24 FFO $2.06-$2.08, consensus $2.06
- Kite Realty reports Q3 FFO 51c , consensus 51c
- Kite Realty Group Trust (KRG) Q3 Earnings Cheat Sheet
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
