Kite Realty Group Trust (NYSE:KRG) Price Target Lowered to $28.00 at Raymond James

Kite Realty Group Trust (NYSE:KRG) had its price objective lowered by Raymond James from $31.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ target price points to a potential upside of 25.28% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Robert W. Baird boosted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. KeyCorp boosted their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of 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. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.13.

Kite Realty Group Trust Trading Down 0.3 %

Kite Realty Group Trust stock traded down $0.06 during trading on Monday, hitting $22.35. The company had a trading volume of 880,149 shares, compared to its average volume of 1,516,674. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 1,117.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company’s 50 day simple moving average is $23.23 and its 200-day simple moving average is $25.22.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results 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 return on equity of 0.12% and a net margin of 0.48%. As a group, analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Institutional Trading of Kite Realty Group Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at about $39,000. Versant Capital Management Inc raised its stake in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 467 shares in the last quarter. FIL Ltd raised its position in Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 579 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC acquired a new stake in Kite Realty Group Trust in the fourth quarter valued at $101,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.