Kite Realty Group Trust (NYSE:KRG)‘s stock had its “buy” rating reaffirmed by stock analysts at Barclays in a research note issued to investors on Tuesday. They currently have a $19.00 price objective on the real estate investment trust’s stock. Barclays’ target price would indicate a potential upside of 27.35% from the company’s current price.
KRG has been the topic of several other research reports. Robert W. Baird reissued a “buy” rating and set a $19.00 price target on shares of Kite Realty Group Trust in a research report on Wednesday, March 21st. ValuEngine cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Capital One Financial raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating in a report on Monday, February 5th. DA Davidson cut shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday, February 5th. Finally, Bank of America cut shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Kite Realty Group Trust currently has an average rating of “Hold” and a consensus target price of $18.71.
Shares of KRG opened at $14.92 on Tuesday. The stock has a market cap of $1,259.01, a PE ratio of 7.38, a price-to-earnings-growth ratio of 1.78 and a beta of 0.47. Kite Realty Group Trust has a 1 year low of $13.90 and a 1 year high of $22.34. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.05 and a current ratio of 1.05.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $89.14 million. Kite Realty Group Trust had a net margin of 3.31% and a return on equity of 0.74%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. analysts predict that Kite Realty Group Trust will post 2 EPS for the current year.
In other news, Director William E. Bindley bought 100,000 shares of Kite Realty Group Trust stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 85,014 shares in the company, valued at $1,280,310.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Wurtzebach bought 6,600 shares of Kite Realty Group Trust stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $14.65 per share, for a total transaction of $96,690.00. The disclosure for this purchase can be found here. 1.93% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in KRG. Certified Advisory Corp acquired a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $137,000. Xact Kapitalforvaltning AB acquired a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $202,000. Schroder Investment Management Group acquired a new stake in Kite Realty Group Trust during the third quarter worth approximately $223,000. Nisa Investment Advisors LLC raised its holdings in Kite Realty Group Trust by 80.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,600 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Kite Realty Group Trust by 124.6% during the fourth quarter. Meeder Asset Management Inc. now owns 16,007 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 8,881 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors.
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About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.
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