Compass Point raised the firm’s price target on Kite Realty to $32 from $29 and keeps a Buy rating on the shares. The company has one of the best balance sheets in the sector and a “high quality” open air portfolio as reflected by the 17.2% annualized base rent growth since 2019, the highest growth in the sector, the analyst tells investors in a research note. The firm cites Kite’s strong balance sheet for the target increase.
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