As previously reported, BofA analyst Joshua Dennerlein downgraded Spirit Realty to Neutral from Buy with a price target of $43, up from $42. He is repositioning within the net lease REITs space and taking a more balance view heading into 2023 given that the macro environment is leading to slower growth, Dennerlein tells investors. Commentary from the latest earnings calls in the group suggests lighter net acquisition volumes and that investment spreads have narrowed, the analyst said.
Published first on TheFly
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