Baird analyst Wesley Golladay downgraded Kite Realty Group to Neutral from Outperform with a price target of $25, down from $26. The REIT’s catalysts are balanced over the near-term after being "heavily positive" last year, the analyst tells investors in a research note. Golladay further warns that while he is long-term bullish on shopping centers and Kite Realty’s portfolio that skews toward the sunbelt, he also sees an uptick in tenant churn over the near-term as some of its legacy tenants continue to struggle.
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Published first on TheFly
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