UPDATE: Morgan Keegan Upgrades Kite Realty Group Trust to Outperform
Morgan Keegan has upgraded Kite Realty Group Trust (NYSE: KRG) from Market Perform to Outperform and has raised the price target from $5 to $5.25 in a research report published today.
In the report, Morgan Keegan states, "We are upgrading KRG shares from a Market Perform to an Outperform rating. We see better growth into 2013, which we believe can support upside in relative valuation. Our revised Price Target is $5.25 per share, which represents 16.4x our 2012 FAD estimate and a 9.0% forward implied cap rate."
Shares of Kite Realty Group Trust are trading at $4.65, up 0.43% from yesterday's close.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.