Kite Realty Group Trust (NYSE:KRG) had its price target lowered by Citigroup from $20.50 to $16.00 in a research report released on Tuesday, February 6th. Citigroup currently has a neutral rating on the real estate investment trust’s stock.
Several other research firms have also recently commented on KRG. ValuEngine cut Kite Realty Group Trust from a buy rating to a hold rating in a report on Sunday, December 31st. Raymond James Financial reissued an outperform rating and issued a $23.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. Capital One Financial reaffirmed an equal weight rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Zacks Investment Research cut Kite Realty Group Trust from a hold rating to a sell rating in a report on Tuesday, October 24th. Finally, Barclays reduced their price objective on Kite Realty Group Trust from $25.00 to $22.00 and set an overweight rating for the company in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $20.33.
Shares of Kite Realty Group Trust (KRG) opened at $14.75 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $1,228.17, a P/E ratio of 7.20, a PEG ratio of 1.71 and a beta of 0.42. Kite Realty Group Trust has a 1-year low of $13.90 and a 1-year high of $24.00.
Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $89.14 million. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. sell-side analysts anticipate that Kite Realty Group Trust will post 2.01 earnings per share for the current fiscal year.
In other Kite Realty Group Trust news, CEO John A. Kite sold 17,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $20.09, for a total transaction of $341,530.00. Following the completion of the transaction, the chief executive officer now owns 52,712 shares of the company’s stock, valued at $1,058,984.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas R. Olinger sold 3,157 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,157 shares of company stock valued at $497,645. 1.87% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation purchased a new position in Kite Realty Group Trust during the third quarter worth $111,000. Perigon Wealth Management LLC increased its position in Kite Realty Group Trust by 58.1% during the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 2,500 shares in the last quarter. Meeder Asset Management Inc. increased its position in Kite Realty Group Trust by 374.1% during the third quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 5,623 shares in the last quarter. Schroder Investment Management Group purchased a new position in Kite Realty Group Trust during the third quarter worth $223,000. Finally, Cetera Advisors LLC purchased a new position in Kite Realty Group Trust during the third quarter worth $223,000. 93.84% of the stock is owned by institutional investors.
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About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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