Kite Realty Group Trust (KRG) Stock Rating Lowered by Zacks Investment Research

Kite Realty Group Trust (NYSE:KRG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “

KRG has been the subject of several other research reports. ValuEngine lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a research report on Friday, August 25th. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price objective on shares of Kite Realty Group Trust in a research report on Thursday, August 24th. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.33.

Kite Realty Group Trust (KRG) opened at $18.94 on Friday. Kite Realty Group Trust has a 52-week low of $17.60 and a 52-week high of $25.01. The company has a market capitalization of $1,637.61, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 2.05 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The firm had revenue of $87.10 million during the quarter, compared to analyst estimates of $88.16 million. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. equities research analysts forecast that Kite Realty Group Trust will post 2.04 earnings per share for the current fiscal year.

In other Kite Realty Group Trust news, CAO Thomas R. Olinger sold 3,157 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.01, for a total transaction of $60,014.57. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.87% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in KRG. SG Americas Securities LLC boosted its stake in shares of Kite Realty Group Trust by 11.5% in the 2nd quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 557 shares during the last quarter. Zions Bancorporation purchased a new position in shares of Kite Realty Group Trust in the 3rd quarter worth $111,000. Riverhead Capital Management LLC boosted its stake in shares of Kite Realty Group Trust by 64.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 2,627 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Kite Realty Group Trust by 14.4% in the 2nd quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 850 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of Kite Realty Group Trust by 58.1% in the 2nd quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.

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Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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