StifelNicolaus & Co. Inc. analyst Nathan Isbee lowered his investment opinionof Kite Realty GroupTrust to "hold" from "buy," and decreased hisprice target to $27 from $29.

Theanalyst wrote in a research report: "While the KRG redevelopment efforts are improving theportfolio, 2017 will be a transition year for KRG and the shares could havetrouble gaining traction with investors, in our view. Redevelopment activitywill continue to weigh on growth in 2017 before improving in 2018, in our view.The shares are trading below our NAV estimate, however, we do not see anear-term catalyst to close the NAV gap until the redevelopment drag is in therearview mirror. Bankruptcy activity increased in 2016 and with some headwindsfacing the sector, we believe some of the other shopping center REITs in ourcoverage universe are better positioned heading into 2017. Please see our 2017shopping center outlook report published today for more details. "