Analyzing Retail REITs: Upgraded Outlook for Tanger, Downgraded Expectations for Kimco and ROIC
Analyzing Retail REITs: Upgraded Outlook for Tanger, Downgraded Expectations for Kimco and ROIC
BofA Securities analyst Jeffrey Spector changed the rating for a few retail REITS following their Retail Executive Summit with 8 REITs.
美銀證券分析師傑弗裏·斯佩克特在舉行了8個房地產投資信託基金的零售高管峯會之後，改變了少數零售房地產投資信託基金的評級。
The analyst upgraded Acadia Realty Trust (NYSE:AKR) to Buy from Neutral at an increased price target of $20 (from $18).
該分析師將阿卡迪亞房地產信託基金（紐約證券交易所代碼：AKR）從中性上調至買入，目標股價從20美元（從18美元）上調至買入。
The rating reflects the leading internal growth outlook, near-term
該評級反映了短期內領先的內部增長前景
growth opportunities, upside to FY24 guidance from recovering
增長機會，復甦對24財年預期的上行空間
Street retail assets include lagging markets like Chicago and lower capital expenditure on Street leases.
街頭零售資產包括芝加哥等滯後的市場和較低的街頭租賃資本支出。
The analyst estimates an FFO per share of $1.30 in 2024 and $1.35 in 2025.
該分析師估計，2024年的每股FFO爲1.30美元，2025年爲1.35美元。
Spector also increased the rating on Tanger Inc. (NYSE:SKT) to Neutral (from Underperform) and upped the price target to $31 from $24.
斯佩克特還將丹吉爾公司（紐約證券交易所代碼：SKT）的評級上調至中性（從表現不佳），並將目標股價從24美元上調至31美元。
The bullish stance reflects the company's strong platform and balance sheet, successful efforts to improve assets, and increased earnings visibility.
看漲立場反映了該公司強大的平台和資產負債表、改善資產的成功努力以及盈利知名度的提高。
The analyst estimates the FFO per share to be $2.06 in 2024 and $2.14 in 2025.
該分析師估計，2024年的每股FFO爲2.06美元，2025年爲2.14美元。
Spector downgraded Kimco Realty Corporation (NYSE:KIM) to Neutral from Buy and cut the price target to $20 (from $24).
斯佩克特將金科房地產公司（紐約證券交易所代碼：KIM）的評級從買入下調至中性，並將目標股價從24美元下調至20美元（紐約證券交易所代碼：KIM）。
The rating change reflects less accretion from the company's acquisition of RPT Realty for around $2 billion.
評級的變化反映了該公司以約20億美元收購RPT Realty的增幅有所減少。
Kimco closed the acquisition of RPT in January 2024.
Kimco 於 2024 年 1 月完成了對 RPT 的收購。
The analyst estimates the FFO per share to be $1.56 in 2024 and $1.65 in 2025.
該分析師估計，2024年的每股FFO爲1.56美元，2025年爲1.65美元。
Also, the analyst lowered the rating on Retail Opportunity Investments Corp. (NYSE:ROIC) to Underperform from Neutral and slashed the price target to $12 (from $14.5).
此外，分析師將零售機會投資公司（紐約證券交易所代碼：ROIC）的評級從中性下調至表現不佳，並將目標股價從14.5美元下調至12美元。
The lowered rating is due to higher risk for the company's dilutive acquisitions (vs. better-positioned peers) and smaller opportunity sets for achieving growth.
評級降低是由於公司稀釋性收購的風險較高（與處於較好地位的同行相比）以及實現增長的機會較小。
The analyst estimates the FFO per share to be $1.04 in 2024 and $1.06 in 2025.
該分析師估計，2024年的每股FFO爲1.04美元，2025年爲1.06美元。
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譯文內容由第三人軟體翻譯。