Mizuho Securities Starts RPT Realty (RPT) at Buy

Mizuho Securities analyst Haendel St. Juste initiates coverage on RPT Realty (NYSE: RPT) with a Buy rating and a price target of $16.00.

The analyst comments "We are initiating coverage of RPT Realty (RPT) with a Buy rating and $16 PT, implying ~21% total return potential (including the 3.6% dividend yield). Our PT assumes no multiple expansion though we believe RPT's multiple can expand, should it deliver on its strategic repositioning objectives and transform itself from a sleepy, under-followed, Midwest-focused, small cap Shopping Center REIT with limited financial flexibility to a larger, better-positioned portfolio with enhanced financial and growth capabilities. Further, we believe RPT can benefit from improved Shopping Center dynamics as the sector enjoys a post-Covid occupancy bounce, cap rate compression, and improved institutional demand."

For an analyst ratings summary and ratings history on RPT Realty click here. For more ratings news on RPT Realty click here.

Shares of RPT Realty closed at $13.87 yesterday.

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