Kite Realty Group Trust (NYSE:KRG) Given Consensus Recommendation of “Hold” by Analysts

Kite Realty Group Trust (NYSE:KRG) has earned an average recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $29.4286.

KRG has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $33.00 target price (up from $27.00) on shares of Kite Realty Group Trust in a report on Tuesday, July 21st. Jefferies Financial Group upgraded Kite Realty Group Trust to a “hold” rating in a research report on Friday, June 26th. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Wells Fargo & Company set a $32.00 price target on Kite Realty Group Trust and gave the stock an “overweight” rating in a research report on Thursday, July 23rd.

Kite Realty Group Trust Stock Performance

KRG opened at $28.79 on Thursday. The company’s 50 day moving average is $28.39 and its 200 day moving average is $26.28. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 4.09 and a beta of 0.85. Kite Realty Group Trust has a 12-month low of $20.86 and a 12-month high of $29.92.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $200.70 million for the quarter, compared to analysts’ expectations of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. On average, equities research analysts predict that Kite Realty Group Trust will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. Captrust Financial Advisors lifted its holdings in Kite Realty Group Trust by 2.8% during the fourth quarter. Captrust Financial Advisors now owns 15,296 shares of the real estate investment trust’s stock valued at $367,000 after purchasing an additional 410 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Kite Realty Group Trust by 7.2% in the first quarter. Parallel Advisors LLC now owns 6,897 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 461 shares during the period. Bessemer Group Inc. increased its stake in shares of Kite Realty Group Trust by 44.4% in the first quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 467 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Kite Realty Group Trust by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the real estate investment trust’s stock valued at $406,000 after purchasing an additional 488 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Kite Realty Group Trust by 2.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,636 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 499 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.