InvenTrust Properties' (IVT) prospects for acquisitions of "high-quality grocery anchored centers" and the positive outlook for the US Sunbelt consumer base underpins a boost in estimates for funds from operations, BofA Securities said Thursday in a report.
BoA increased its 2025 FFO estimates by 1.1%, topping consensus, partly on expectations the real estate investment trust's acquisition pace will accelerate versus historical levels through next year.
InvenTrust has "one of the highest quality portfolios" among some rivals, and 96% of the company's assets are in the Sunbelt region, which has the "most favorable" fundamentals, BofA said.
BofA Securities boosted its rating on InvenTrust to buy from neutral and raised its price target to $33 from $30.
Shares of the company rose 2% in recent Thursday trading.
Price: 29.08, Change: +0.56, Percent Change: +1.96
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