Kite Realty Group Trust (NYSE:KRG) Cut to “Hold” at Piper Sandler

Kite Realty Group Trust (NYSE:KRG) was downgraded by stock analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

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

Kite Realty Group Trust Stock Up 1.6 %

NYSE:KRG opened at $23.32 on Wednesday. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The stock’s fifty day moving average is $24.36 and its two-hundred day moving average is $25.47. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -582.88, a price-to-earnings-growth ratio of 3.63 and a beta of 1.27. 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 (NYSE:KRG) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. Research analysts anticipate that Kite Realty Group Trust will post 2.06 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KRG. Eagle Asset Management Inc. acquired a new position in Kite Realty Group Trust during the 3rd quarter worth approximately $7,486,000. Cerity Partners LLC lifted its holdings in Kite Realty Group Trust by 105.1% in the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock valued at $1,279,000 after acquiring an additional 24,679 shares during the period. Versor Investments LP purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $537,000. Vanderbilt University grew its stake in shares of Kite Realty Group Trust by 115.2% during the 4th quarter. Vanderbilt University now owns 32,411 shares of the real estate investment trust’s stock worth $818,000 after purchasing an additional 17,348 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Kite Realty Group Trust in the 3rd quarter valued at about $631,000. 90.81% of the stock is owned by hedge funds and other 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.