Mizuho upgrades retail REIT Regency Centers to 'outperform'

Brixmor Property

09/07/2024 19:05

** Brokerage Mizuho upgrades retail real estate investment
trust Regency Centers Corp  REG.O  to "outperform" from
"neutral"
    ** Lifts PT to $67 from $61, representing an upside of 8.5% 
to the stock's last close
    ** Says REG & peer Brixmor Property Group  BRX.N  have most
earnings upside potential in FY24 among brokerage's sector
coverage
    ** Following shopping centers' YTD underperformance, we see 
favorable setup into H2 2024 with earnings upside, improving
same store net operating income (ssNOI) among catalysts - Mizuho
    ** Fifteen brokerages rate stock "buy" or higher and five
"hold"; their median PT is $69 - LSEG data
    ** With move on the session, stock down 7.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))