Compass Point raised the firm’s price target on Site Centers to $16 from $14 and keeps a Neutral rating on the shares after the REIT reported fourth quarter OFFO of 27c per share, 4c ahead of the firm’s estimate and 3c above consensus. The firm remains positive on management’s plan to focus a new higher growth venture in CURB exclusively on unanchored convenience centers going forward, noting that the reverse stock split and spin of CURB is expected to occur around October 1.
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