Kite Realty Group Trust (NYSE:KRG) had its price objective dropped by equities research analysts at Barclays from $25.00 to $22.00 in a research note issued to investors on Tuesday, January 30th. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays’ target price indicates a potential upside of 49.15% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $23.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Kite Realty Group Trust has an average rating of “Hold” and an average target price of $20.33.
Shares of Kite Realty Group Trust (NYSE:KRG) opened at $14.75 on Tuesday. Kite Realty Group Trust has a 52 week low of $13.90 and a 52 week high of $24.00. 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 firm has a market capitalization of $1,228.17, a PE ratio of 7.20, a PEG ratio of 1.71 and a beta of 0.42.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $88.90 million during the quarter, compared to analyst estimates of $89.14 million. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. Kite Realty Group Trust’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. analysts expect that Kite Realty Group Trust will post 2.01 earnings per share for the current year.
In other news, CEO John A. Kite sold 17,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,058,984.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William E. Bindley acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price of $15.06 per share, with a total value of $1,506,000.00. Following the transaction, the director now owns 85,014 shares of the company’s stock, valued at $1,280,310.84. The disclosure for this purchase can be found here. Insiders sold a total of 25,157 shares of company stock valued at $497,645 in the last quarter. 1.87% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its position in Kite Realty Group Trust by 1.0% in the second quarter. Amalgamated Bank now owns 11,312 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 109 shares in the last quarter. D.A. Davidson & CO. grew its position in Kite Realty Group Trust by 23.5% in the second quarter. D.A. Davidson & CO. now owns 9,651 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 1,834 shares in the last quarter. Wells Fargo & Company MN grew its position in Kite Realty Group Trust by 3.4% in the second quarter. Wells Fargo & Company MN now owns 64,972 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 2,166 shares in the last quarter. Perigon Wealth Management LLC grew its position in Kite Realty Group Trust by 58.1% in the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Kite Realty Group Trust by 64.1% in the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,627 shares during the last quarter. Institutional investors own 93.84% of the company’s stock.
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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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