UPDATE: International Strategy & Investment Maintains Hold Rating, Raises PT for Regency Centers
In a report released earlier today, International Strategy & Investment Group LLC maintained its Hold rating for Regency Centers Corporation (NYSE: REG) and raised its price target from $43.00 to $47.00.
ISI went on to say “[REG's] Management noted that they are seeing greater demand for ‘B' quality properties, and according to REG's guidance they expect disposition cap rates of 7.5-8%. Beginning with the Blackstone deal to buy 26 EQY assets at the end of 2011, it appears that in the strip center space, capital is available for secondary assets at reasonable cap rates as long as the centers have healthy grocer anchors.
Regency Centers Corporation closed yesterday at $46.99.
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