Kite Realty Group Trust (KRG) Rating Lowered to Hold at ValuEngine

Kite Realty Group Trust (NYSE:KRG) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Sunday, December 31st.

A number of other research analysts have also issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $23.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Wednesday, December 20th. Zacks Investment Research downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.80.

Kite Realty Group Trust (NYSE:KRG) opened at $17.72 on Friday. Kite Realty Group Trust has a 12-month low of $17.58 and a 12-month high of $24.38. The stock has a market capitalization of $1,488.81, a P/E ratio of 118.13, a P/E/G ratio of 1.91 and a beta of 0.63. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The business had revenue of $87.10 million during the quarter, compared to analyst estimates of $88.16 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. equities analysts forecast that Kite Realty Group Trust will post 2.04 earnings per share for the current fiscal year.

In other news, CAO Thomas R. Olinger sold 3,157 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.01, for a total transaction of $60,014.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John A. Kite sold 17,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $20.09, for a total value of $341,530.00. Following the sale, the chief executive officer now owns 52,712 shares of the company’s stock, valued at approximately $1,058,984.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,157 shares of company stock valued at $497,645. 1.87% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of KRG. Sorin Capital Management LLC acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at approximately $16,845,000. Macquarie Group Ltd. raised its holdings in Kite Realty Group Trust by 51.5% in the 2nd quarter. Macquarie Group Ltd. now owns 2,113,325 shares of the real estate investment trust’s stock valued at $40,006,000 after acquiring an additional 718,197 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Kite Realty Group Trust by 55.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,218,437 shares of the real estate investment trust’s stock valued at $24,674,000 after acquiring an additional 436,465 shares in the last quarter. Prudential PLC acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at approximately $7,824,000. Finally, Timbercreek Asset Management Ltd. acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at approximately $6,527,000. 94.32% of the stock is owned by hedge funds and other institutional investors.

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Kite Realty Group Trust Company Profile

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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Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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