PEAK - Regency Centers gets double-upgrade at JPMorgan as REIT focus shift to re-opening

JPMorgan analyst Anthony Paolone double-upgrades Regency Centers (REG) to Overweight from Underweight and shifts a number of other REIT ratings to adjust to the re-opening of the economy.The Regency upgrade is due to "our willingness to increase our exposure to the re-opening recovery via a high quality portfolio and a company that has the liquidity to play offense vis its development pipeline and acquisitions," Paolone writes in a note to clients.Raises American Campus Communities (ACC) to Neutral from Underweight, as the re-opening of the economy "almost ensures a solid 2021/2022 school year for its portfolio."The re-starting of the Disney college intern program should boost the lease-up of ACC's Disney development, the said.Upgrades Federal Realty (FRT) to Neutral from Underweight after stock underperformed strip mall REITs in 2020 as its exposure to full-service dining and entertainment suffered from COVID closures."As conditions start to improve in 2021 and 2022, headwinds should subside

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Regency Centers gets double-upgrade at JPMorgan as REIT focus shift to re-opening