REG - Baird downgrades Regency Centers RPAI RPT Realty upgrades Kimco

Baird analyst Wesley Golladay downgrades Regency Centers ([[REG]] -0.8%), Retail Properties of America ([[RPAI]] +1.8%), and RPT Realty ([[RPT]] +1.4%) to Neutral from Outperform and upgrades Kimco Realty ([[KIM]] +0.1%) to Outperform from Neutral as he sees a strong start to 2021 leads leading to a "less-timely setup."Skews ratings toward grocery anchored and companies with densification opportunities. Overall, Baird is Neutral on the shopping center REIT sector."We believe landlords that are in densely populated locations stand to benefit the most and view the REITs in our coverage well-positioned on this front," Golladay writes in a note.Still, he's long-term constructive on shopping center REITs, but expects them to work through near-term issues."Occupancy is likely to decline further during the seasonally soft first quarter, and it's unclear when or how many of the cash basis and non-paying tenants will return to paying full rent."Expects some delays for lease commencements due to COVID.In

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Baird downgrades Regency Centers, RPAI, RPT Realty, upgrades Kimco