Kite Realty Group Trust (NYSE:KRG) Lowered to “Hold” Rating by Piper Sandler

Kite Realty Group Trust (NYSE:KRG) was downgraded by stock analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on KRG. Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.13.

Kite Realty Group Trust Price Performance

KRG opened at $23.32 on Wednesday. The company’s 50-day simple moving average is $24.36 and its two-hundred day simple moving average is $25.47. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The stock has a market capitalization of $5.12 billion, a P/E ratio of -582.88, a P/E/G ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. As a group, analysts predict that Kite Realty Group Trust will post 2.06 EPS for the current year.

Institutional Trading of Kite Realty Group Trust

A number of institutional investors and hedge funds have recently bought and sold shares of KRG. Norges Bank bought a new position in shares of Kite Realty Group Trust during the 4th quarter valued at about $91,335,000. Centersquare Investment Management LLC bought a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $64,403,000. JPMorgan Chase & Co. grew its holdings in Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after buying an additional 2,308,613 shares in the last quarter. Aew Capital Management L P purchased a new position in Kite Realty Group Trust during the 4th quarter valued at approximately $31,663,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kite Realty Group Trust by 432.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after acquiring an additional 1,105,539 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.