Analyzing Retail REITs: Upgraded Outlook for Tanger, Downgraded Expectations for Kimco and ROIC
Analyzing Retail REITs: Upgraded Outlook for Tanger, Downgraded Expectations for Kimco and ROIC
BofA Securities analyst Jeffrey Spector changed the rating for a few retail REITS following their Retail Executive Summit with 8 REITs.
美银证券分析师杰弗里·斯佩克特在举行了8个房地产投资信托基金的零售高管峰会之后，改变了少数零售房地产投资信托基金的评级。
The analyst upgraded Acadia Realty Trust (NYSE:AKR) to Buy from Neutral at an increased price target of $20 (from $18).
该分析师将阿卡迪亚房地产信托基金（纽约证券交易所代码：AKR）从中性上调至买入，目标股价从20美元（从18美元）上调至买入。
The rating reflects the leading internal growth outlook, near-term
该评级反映了短期内领先的内部增长前景
growth opportunities, upside to FY24 guidance from recovering
增长机会，复苏对24财年预期的上行空间
Street retail assets include lagging markets like Chicago and lower capital expenditure on Street leases.
街头零售资产包括芝加哥等滞后的市场和较低的街头租赁资本支出。
The analyst estimates an FFO per share of $1.30 in 2024 and $1.35 in 2025.
该分析师估计，2024年的每股FFO为1.30美元，2025年为1.35美元。
Spector also increased the rating on Tanger Inc. (NYSE:SKT) to Neutral (from Underperform) and upped the price target to $31 from $24.
斯佩克特还将丹吉尔公司（纽约证券交易所代码：SKT）的评级上调至中性（从表现不佳），并将目标股价从24美元上调至31美元。
The bullish stance reflects the company's strong platform and balance sheet, successful efforts to improve assets, and increased earnings visibility.
看涨立场反映了该公司强大的平台和资产负债表、改善资产的成功努力以及盈利知名度的提高。
The analyst estimates the FFO per share to be $2.06 in 2024 and $2.14 in 2025.
该分析师估计，2024年的每股FFO为2.06美元，2025年为2.14美元。
Spector downgraded Kimco Realty Corporation (NYSE:KIM) to Neutral from Buy and cut the price target to $20 (from $24).
斯佩克特将金科房地产公司（纽约证券交易所代码：KIM）的评级从买入下调至中性，并将目标股价从24美元下调至20美元（纽约证券交易所代码：KIM）。
The rating change reflects less accretion from the company's acquisition of RPT Realty for around $2 billion.
评级的变化反映了该公司以约20亿美元收购RPT Realty的增幅有所减少。
Kimco closed the acquisition of RPT in January 2024.
Kimco 于 2024 年 1 月完成了对 RPT 的收购。
The analyst estimates the FFO per share to be $1.56 in 2024 and $1.65 in 2025.
该分析师估计，2024年的每股FFO为1.56美元，2025年为1.65美元。
Also, the analyst lowered the rating on Retail Opportunity Investments Corp. (NYSE:ROIC) to Underperform from Neutral and slashed the price target to $12 (from $14.5).
此外，分析师将零售机会投资公司（纽约证券交易所代码：ROIC）的评级从中性下调至表现不佳，并将目标股价从14.5美元下调至12美元。
The lowered rating is due to higher risk for the company's dilutive acquisitions (vs. better-positioned peers) and smaller opportunity sets for achieving growth.
评级降低是由于公司稀释性收购的风险较高（与处于较好地位的同行相比）以及实现增长的机会较小。
The analyst estimates the FFO per share to be $1.04 in 2024 and $1.06 in 2025.
该分析师估计，2024年的每股FFO为1.04美元，2025年为1.06美元。
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