Kite Realty Group Trust (KRG) Upgraded to Hold by 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 research report issued to clients and investors on Wednesday.

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. “

Several other brokerages have also weighed in on KRG. BidaskClub raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a research report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and set a $23.00 target price on shares of Kite Realty Group Trust in a research report on Thursday, August 24th. Finally, Capital One Financial Corporation reissued an “equal weight” rating on shares of Kite Realty Group Trust in a research report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $25.33.

Shares of Kite Realty Group Trust (NYSE:KRG) opened at $19.06 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. Kite Realty Group Trust has a 12-month low of $17.60 and a 12-month high of $25.44. The firm has a market capitalization of $1,616.71, a PE ratio of 9.48, a PEG ratio of 2.04 and a beta of 0.62.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The business had revenue of $87.10 million for the quarter, compared to analyst estimates of $88.16 million. During the same quarter last year, the company earned $0.52 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Kite Realty Group Trust (KRG) Upgraded to Hold by Zacks Investment Research” was published by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://transcriptdaily.com/2017/11/15/kite-realty-group-trust-krg-upgraded-to-hold-by-zacks-investment-research.html.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in Kite Realty Group Trust by 13.6% during the second quarter. American Century Companies Inc. now owns 1,682,154 shares of the real estate investment trust’s stock worth $31,843,000 after buying an additional 202,026 shares during the period. IndexIQ Advisors LLC grew its stake in shares of Kite Realty Group Trust by 11.7% in the 2nd quarter. IndexIQ Advisors LLC now owns 100,825 shares of the real estate investment trust’s stock valued at $1,909,000 after purchasing an additional 10,589 shares during the last quarter. AXA grew its stake in shares of Kite Realty Group Trust by 205.3% in the 2nd quarter. AXA now owns 224,410 shares of the real estate investment trust’s stock valued at $4,249,000 after purchasing an additional 150,900 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in shares of Kite Realty Group Trust by 105.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 81,000 shares of the real estate investment trust’s stock valued at $1,533,000 after purchasing an additional 41,600 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Kite Realty Group Trust by 20.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,539,805 shares of the real estate investment trust’s stock valued at $29,149,000 after purchasing an additional 266,113 shares during the last quarter. 94.69% of the stock is currently 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.

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

Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply