Truist lowered the firm’s price target on Kimco Realty (KIM) to $20 from $22 and keeps a Hold rating on the shares. The firm is updating its model after the company’s recent $500M debt offering announcement. Kimco still has net operating income upside from further occupancy gains and pipeline, but it is relatively less upside than companies such as Brixmor (BRX), the analyst tells investors in a research note.
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