Kite Realty Group Trust’s (KRG) Neutral Rating Reiterated at Piper Sandler

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “neutral” rating restated by investment analysts at Piper Sandler in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $25.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $33.00. Piper Sandler’s target price would indicate a potential upside of 11.63% from the company’s previous close.

Several other research analysts also recently commented on KRG. JPMorgan Chase & Co. cut their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. KeyCorp raised their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.13.

Kite Realty Group Trust Trading Down 3.6 %

Shares of KRG stock opened at $22.40 on Thursday. The company has a 50 day moving average of $24.29 and a 200-day moving average of $25.45. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The firm has a market cap of $4.92 billion, a P/E ratio of -559.88, a PEG ratio of 3.63 and a beta of 1.27.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. Sell-side analysts anticipate that Kite Realty Group Trust will post 2.06 earnings per share for the current year.

Institutional Trading of Kite Realty Group Trust

Several hedge funds have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda bought a new stake in Kite Realty Group Trust in the fourth quarter worth $225,000. Northern Trust Corp lifted its stake in Kite Realty Group Trust by 17.5% in the fourth quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust’s stock worth $91,466,000 after purchasing an additional 539,322 shares during the last quarter. Optiver Holding B.V. lifted its stake in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 467 shares during the last quarter. Beacon Pointe Advisors LLC lifted its stake in Kite Realty Group Trust by 39.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 28,712 shares of the real estate investment trust’s stock worth $725,000 after purchasing an additional 8,135 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Kite Realty Group Trust by 16.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 732,691 shares of the real estate investment trust’s stock worth $18,493,000 after purchasing an additional 103,485 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.