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

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

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. “

KRG has been the topic of several other research reports. Raymond James Financial, Inc. upgraded Kite Realty Group Trust from an “outperform” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a report on Monday, January 9th. Barclays PLC reduced their price objective on Kite Realty Group Trust from $31.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Citigroup Inc cut Kite Realty Group Trust from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Tuesday, December 13th. Stifel Nicolaus cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Monday, December 12th. Finally, Robert W. Baird raised Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $27.00 to $24.00 in a research report on Monday, March 13th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Kite Realty Group Trust presently has a consensus rating of “Buy” and an average target price of $28.43.

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

Kite Realty Group Trust (NYSE:KRG) traded down 1.17% during trading on Friday, reaching $21.87. 906,183 shares of the company’s stock traded hands. The firm has a 50 day moving average of $21.23 and a 200 day moving average of $23.52. Kite Realty Group Trust has a 1-year low of $19.91 and a 1-year high of $30.45. The firm has a market capitalization of $1.83 billion, a PE ratio of 2187.00 and a beta of 0.67.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, February 2nd. The real estate investment trust reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Kite Realty Group Trust had a return on equity of 0.10% and a net margin of 0.45%. The company had revenue of $88.87 million for the quarter, compared to the consensus estimate of $89.02 million. During the same quarter last year, the company posted $0.50 earnings per share. Equities analysts forecast that Kite Realty Group Trust will post ($0.05) EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Shareholders of record on Thursday, April 6th were issued a dividend of $0.3025 per share. The ex-dividend date of this dividend was Tuesday, April 4th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 5.53%. Kite Realty Group Trust’s payout ratio is presently 6,053.03%.

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In other Kite Realty Group Trust news, CEO John A. Kite sold 25,000 shares of Kite Realty Group Trust stock in a transaction on Friday, March 31st. The stock was sold at an average price of $21.51, for a total transaction of $537,750.00. Following the completion of the transaction, the chief executive officer now directly owns 47,580 shares of the company’s stock, valued at $1,023,445.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.19% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Elkfork Partners LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $112,000. MSI Financial Services Inc raised its stake in shares of Kite Realty Group Trust by 0.6% in the third quarter. MSI Financial Services Inc now owns 5,750 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 36 shares during the period. Sei Investments Co. raised its stake in shares of Kite Realty Group Trust by 24.6% in the third quarter. Sei Investments Co. now owns 7,261 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 1,433 shares during the period. Sii Investments Inc. WI acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter worth $214,000. Finally, Baker Ellis Asset Management LLC raised its stake in shares of Kite Realty Group Trust by 21.4% in the third quarter. Baker Ellis Asset Management LLC now owns 9,650 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 1,700 shares during the period. 93.36% of the stock is owned by institutional investors.

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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