Jefferies Financial Group Downgrades Kite Realty Group Trust (NYSE:KRG) to Hold

Kite Realty Group Trust (NYSE:KRG) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $27.00 price target on the real estate investment trust’s stock, down from their previous price target of $31.00. Jefferies Financial Group’s price target indicates a potential upside of 7.78% from the company’s previous close.

Several other research firms have also issued reports on KRG. Robert W. Baird upped their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. KeyCorp upped their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.43.

Kite Realty Group Trust Stock Up 1.3 %

Kite Realty Group Trust stock opened at $25.05 on Thursday. The company has a fifty day simple moving average of $26.38 and a 200 day simple moving average of $25.32. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a market cap of $5.50 billion, a P/E ratio of -626.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28.

Institutional Trading of Kite Realty Group Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after acquiring an additional 1,105,539 shares during the last quarter. Land & Buildings Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the second quarter valued at approximately $22,277,000. APG Asset Management US Inc. bought a new position in shares of Kite Realty Group Trust during the second quarter worth approximately $16,665,000. Franklin Resources Inc. lifted its holdings in Kite Realty Group Trust by 51.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares during the last quarter. Finally, Lighthouse Investment Partners LLC boosted its stake in Kite Realty Group Trust by 157.9% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after purchasing an additional 450,000 shares during the period. Institutional investors own 90.81% of the company’s stock.

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.