Piper Sandler Downgrades Kite Realty Group Trust (NYSE:KRG) to Hold

Kite Realty Group Trust (NYSE:KRG) was downgraded by research analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. 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 research report on Wednesday, January 15th. Wells Fargo & Company reduced their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, KeyCorp increased their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $28.13.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $23.32 on Wednesday. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a market cap of $5.12 billion, a P/E ratio of -582.88, a P/E/G ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The firm has a 50-day moving average of $24.36 and a 200-day moving average of $25.47.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. Sell-side analysts expect that Kite Realty Group Trust will post 2.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust in the third quarter worth $39,000. Strategic Investment Solutions Inc. IL bought a new position in Kite Realty Group Trust in the 3rd quarter worth about $45,000. Versant Capital Management Inc grew its position in 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 valued at $62,000 after purchasing an additional 2,080 shares during the last quarter. FIL Ltd grew its position in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC bought a new stake in Kite Realty Group Trust during the 4th quarter valued at about $101,000. 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.