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S&P Global Ratings recently upgraded its rating outlook for Kimco Realty (NYSE:KIM) to Positive from Stable, while affirming the shopping center REIT’s BBB+ issuer credit rating.
The upwardly revised outlook “reflects our expectation for Kimco to achieve solid operating performance over the next two years,” S&P said in a Wednesday release.
Such performance is expected to stem from “favorable retail fundamentals, historically high leased occupancy, positive leasing and releasing spreads, and upside potential at recently acquired RPT properties,” it added.
Meanwhile, the SA Quant system rating, the average SA analyst rating and the average sell-side analyst rating all view Kimco (KIM) stock as a Buy.
Kimco (KIM) shares inched down 0.2% in Thursday morning trading.
