As previously reported, BofA upgraded InvenTrust Properties to Buy from Neutral with a price target of $33, up from $30, citing valuation. Based on expectations InvenTrust will increase external capital deployment, the firm’s positive outlook on Sunbelt grocery-anchored retail, institutional capital formation around quality grocery-anchored assets, and expectations that necessity retail cap rates will continue to compress, the firm notes that it is increasing its 2025 FFO estimates by 1.1%, putting them above consensus.
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