Kite Realty Group (KRG) PT Raised to $31 at Raymond James

Raymond James analyst RJ Milligan raised the price target on Kite Realty Group (NYSE: KRG) to $31.00 (from $28.00) while maintaining a Strong Buy rating.

The analyst comments ": We are reiterating our Strong Buy rating. Relative valuation has become more attractive, with KRG shares trading at a multiple discount versus the group. KRG shares now trade at one of the lowest AFFO multiples in the sector. Given KRG now boasts the best balance sheet in the sector, we believe the multiple discount is unwarranted. Additionally, one of our biggest issues with KRG has been its elevated capex spend given the large SNO pipeline and BBBY backfilling. With those costs expected to come down in the back half of 2025 and/or 2026, the outlook for accelerating AFFO per share growth has become more clear/tangible."

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