Wells Fargo & Company Cuts Kite Realty Group Trust (NYSE:KRG) Price Target to $26.00

Kite Realty Group Trust (NYSE:KRG) had its price target reduced by Wells Fargo & Company from $28.00 to $26.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 10.63% from the company’s previous close.

Several other research firms have also issued reports on KRG. KeyCorp raised their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Robert W. Baird upped 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. Finally, 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 on the stock in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average target price of $29.13.

Kite Realty Group Trust Stock Up 1.2 %

Shares of NYSE KRG opened at $23.50 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $28.24. The firm’s 50 day simple moving average is $25.21 and its two-hundred day simple moving average is $25.51. The stock has a market capitalization of $5.16 billion, a P/E ratio of -587.55, a PEG ratio of 3.57 and a beta of 1.29.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.43). The company had revenue of $207.25 million for the quarter, compared to the consensus estimate of $210.39 million. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. During the same period last year, the business posted $0.51 earnings per share. As a group, analysts expect that Kite Realty Group Trust will post 2.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. EMC Capital Management increased its position in shares of Kite Realty Group Trust by 4.9% during the fourth quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 447 shares during the period. Fifth Third Bancorp boosted its position in Kite Realty Group Trust by 2.6% during the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock valued at $465,000 after acquiring an additional 466 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kite Realty Group Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock worth $2,554,000 after acquiring an additional 483 shares during the period. State of Alaska Department of Revenue raised its position in shares of Kite Realty Group Trust by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock worth $3,408,000 after acquiring an additional 484 shares in the last quarter. Finally, Marcum Wealth LLC lifted its stake in shares of Kite Realty Group Trust by 1.4% in the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 571 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Company Profile

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.