Kite Realty Group Trust (NYSE:KRG) Receives $16.33 Average Target Price from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have earned a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $15.63.

KRG has been the topic of a number of recent analyst reports. Compass Point initiated coverage on Kite Realty Group Trust in a research note on Thursday. They issued a “sell” rating and a $13.50 price objective on the stock. ValuEngine lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, June 22nd. DA Davidson reaffirmed a “neutral” rating on shares of Kite Realty Group Trust in a research note on Monday, July 29th. Zacks Investment Research raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Citigroup set a $16.00 price objective on Kite Realty Group Trust and gave the stock a “hold” rating in a research note on Monday, May 20th.

Shares of KRG stock traded down $0.14 during mid-day trading on Friday, reaching $14.68. 7,520 shares of the stock traded hands, compared to its average volume of 466,696. The business has a fifty day moving average price of $15.38. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $17.75. The stock has a market capitalization of $1.29 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.32 and a current ratio of 1.32.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. The firm had revenue of $81.48 million for the quarter, compared to analyst estimates of $79.95 million. Kite Realty Group Trust had a negative return on equity of 1.66% and a negative net margin of 6.92%. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. Equities research analysts expect that Kite Realty Group Trust will post 1.65 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of KRG. Pictet Asset Management Ltd. boosted its holdings in shares of Kite Realty Group Trust by 20.0% in the 2nd quarter. Pictet Asset Management Ltd. now owns 16,200 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 2,700 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Kite Realty Group Trust by 22.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,620,277 shares of the real estate investment trust’s stock worth $24,514,000 after purchasing an additional 297,063 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Kite Realty Group Trust by 13.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 34,802 shares of the real estate investment trust’s stock worth $527,000 after purchasing an additional 4,132 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Kite Realty Group Trust by 167.1% in the 2nd quarter. Morgan Stanley now owns 433,760 shares of the real estate investment trust’s stock worth $6,563,000 after purchasing an additional 271,352 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Kite Realty Group Trust during the 2nd quarter valued at about $344,000. 90.34% of the stock is currently owned by institutional investors.

About Kite Realty Group Trust

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

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