Piper Sandler downgraded Kite Realty (KRG) to Neutral from Overweight with a price target of $25, down from $33. The company’s earnings rebound will take longer than its shopping center peers, the analyst tells investors in a research note. Piper views the “outsized” retailer bankruptcy impact on Kite versus shopping center peers “more like an unlucky hand of cards, rather than a reflection of its portfolio quality, as its exposure was more than peers.” It cites backfill headwinds for the downgrade.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KRG:
- Kite Realty Group Trust Reports Strong Leasing and Financial Performance in 2024
- Hold Recommendation for Kite Realty Group Amid Strong 2024 Performance and Conservative 2025 Outlook
- Kite Realty Group Highlights Strong Financial Performance
- Kite Realty reports Q4 core FFO 52c, consensus 53c
- Kite Realty sees FY25 core FFO $1.98-$2.04, consensus $2.11
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue