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In a report published Monday, Bank of America analyst Craig Schmidt initiated coverage on
Inland Real Estate CorporationIRC with a Neutral rating and $10.50 price target.
In the report, Bank of America noted, “We initiate coverage on Inland Real Estate Corp (IRC) with a Neutral rating and a $10.50 price objective. IRC's portfolio primarily consists of power, community and neighborhood shopping centers located in the Midwestern US. IRC's portfolio demographics rank the in the top quartile of 16 shopping center REITs. However, valuation and a lack of near term catalysts keep us at a Neutral rating. Within REITs we are underweight grocery anchored shopping centers and prefer general merchandise anchored portfolios, high densities, and less exposure to small shop space.”
Inland Real Estate Corporation closed on Friday at $10.22.
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