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

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “neutral” rating reissued by equities researchers at Piper Sandler in a report issued on Thursday,Benzinga reports. They presently have a $25.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $33.00. Piper Sandler’s price target suggests a potential upside of 8.89% from the company’s previous close.

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

Kite Realty Group Trust Stock Down 3.1 %

Shares of NYSE:KRG opened at $22.96 on Thursday. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of -574.00, a PEG ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The business has a 50-day moving average price of $24.44 and a 200 day moving average price of $25.49. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results 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 expect that Kite Realty Group Trust will post 2.06 EPS for the current year.

Institutional Trading of Kite Realty Group Trust

Large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $39,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $45,000. Versant Capital Management Inc lifted its position in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth $101,000. Finally, Headlands Technologies LLC purchased a new position in Kite Realty Group Trust in the fourth quarter valued at $116,000. 90.81% of the stock is currently 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.