Citi maintains buy on Kite Realty with a $24 price target
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On Wednesday, Citi reiterated its Buy rating on shares of Kite Realty Group (NYSE:KRG), maintaining a price target of $24.00. The firm updated its forecasts to account for the company’s fourth-quarter results, along with revised assumptions regarding acquisitions, dispositions, financing, and internal growth.
While the 2024 funds from operations (FFO) estimate remains the same, Citi has raised its 2025 FFO estimate from $2.08 to $2.11. The adjustment reflects an anticipated increase in core net operating income (NOI) compared to previous estimates.
Kite Realty Group, a real estate investment trust (REIT), focuses on the ownership and operation of high-quality retail properties. The company’s portfolio includes strategically located shopping centers in select markets across the United States.
Citi’s revised estimates come after a thorough analysis of Kite Realty’s recent performance and future prospects. The firm’s unchanged 2024 FFO forecast suggests confidence in the company’s ability to maintain its financial position through the next year.
Investors and stakeholders in Kite Realty Group can look to Citi’s updated projections as a sign of the company’s potential for steady growth in the retail real estate sector. The increased 2025 FFO estimate indicates an optimistic outlook for Kite Realty’s core business operations moving forward.
