- "We view shares to be fairly valued on a risk-adjusted basis given our forecast for slower relative earnings growth in 2015 (-1% AFFO growth vs. 8% for the sector) vs. the company’s peers," says analyst Todd Thomas, downgrading RPAI from Buy to Hold and pulling the $17 price target after the stock's bug run higher this year.
- He notes current occupancy of 93.3% offers less upside than the 88% it stood at when the company went public in 2012.
- "Finally, we suspect that management will issue conservative 2015 initial FFO guidance, which could also pressure shares in the near term; this may present a more attractive entry point for tactical investors."