KeyBanc Upgrades Inland Real Estate (IRC) to Buy

KeyBanc upgraded Inland Real Estate (NYSE: IRC) from Hold to Buy with a price target of $12.00.

Analyst Jordan Sadler said, "IRC screens as the least expensive shopping center REIT at a 39% 2015 AFFO multiple discount and 7.4% implied cap rate. Expectations remain low, in our view, and shares have underperformed the strips and the RMS by 1,750 bps and 1,870 bps year-to-date, respectively. While performance within IRC’s portfolio has been somewhat volatile over the last several quarters, we expect the Company’s leasing efforts to translate into improving SSNOI growth in the quarters ahead asspace taken offline is leased and brought back into operations."

For an analyst ratings summary and ratings history on Inland Real Estate click here. For more ratings news on Inland Real Estate click here.

Shares of Inland Real Estate closed at $10.26 yesterday.

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