A couple of analysts downgraded RPT Realty (NYSE: RPT) following a merger deal announced yesterday.
The company penned a deal to be acquired by Kimco Realty Corp (NYSE: KIM) for around $2 billion, including the assumption of debt and preferred stock.
The price represents a consideration of about $11.34 per RPT share based on Kimco's closing share price on August 25, 2023, a 19% premium to RPT's closing share price on August 25, 2023.
Raymond James analyst RJ Milligan downgraded RPT to market Perform from Outperform.
The analyst sees the acquisition deal as a hugely positive outcome for ...