Zacks Investment Research Upgrades Kite Realty Group Trust (KRG) to “Hold”

Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “

A number of other research analysts also recently issued reports on KRG. Citigroup raised their price target on Kite Realty Group Trust from $16.50 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Robert W. Baird downgraded Kite Realty Group Trust from an “outperform” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.75.

NYSE:KRG opened at $16.72 on Wednesday. The company has a market cap of $1.34 billion, a P/E ratio of 8.20, a PEG ratio of 2.04 and a beta of 0.50. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07. Kite Realty Group Trust has a 52-week low of $13.87 and a 52-week high of $20.24.

Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC grew its stake in shares of Kite Realty Group Trust by 29.4% in the 3rd quarter. Riverhead Capital Management LLC now owns 13,649 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 3,100 shares during the last quarter. US Bancorp DE grew its stake in shares of Kite Realty Group Trust by 9.4% in the 3rd quarter. US Bancorp DE now owns 37,684 shares of the real estate investment trust’s stock valued at $628,000 after purchasing an additional 3,236 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Kite Realty Group Trust by 7.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 51,605 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 3,452 shares during the last quarter. BB&T Securities LLC grew its stake in shares of Kite Realty Group Trust by 36.2% in the 2nd quarter. BB&T Securities LLC now owns 14,781 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 3,927 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Kite Realty Group Trust by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,341,778 shares of the real estate investment trust’s stock valued at $22,340,000 after purchasing an additional 5,261 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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