Raymond James Upgrades Kite Realty Group (KRG) to Strong Buy

Raymond James analyst RJ Milligan upgraded Kite Realty Group (NYSE: KRG) from Market Perform to Strong Buy with a price target of $28.00.

The analyst comments: "We are upgrading KRG to Strong Buy from Market Perform. 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 and largest NAV discounts 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 BSBY 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."

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

Shares of Kite Realty Group closed at $25.01 yesterday.

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