Kite Realty Group Trust (NYSE:KRG) Price Target Cut to $28.00 by Analysts at Raymond James

Kite Realty Group Trust (NYSE:KRG) had its price target dropped by equities researchers at Raymond James from $31.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target suggests a potential upside of 25.28% from the company’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. KeyCorp increased their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus target price of $28.13.

Kite Realty Group Trust Trading Down 0.3 %

Shares of NYSE KRG traded down $0.06 during trading hours on Monday, reaching $22.35. The stock had a trading volume of 880,149 shares, compared to its average volume of 1,516,674. The business’s fifty day moving average price is $23.23 and its two-hundred day moving average price is $25.22. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 1,117.50, a P/E/G ratio of 3.57 and a beta of 1.30. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results 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 return on equity of 0.12% and a net margin of 0.48%. Analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth approximately $91,335,000. Centersquare Investment Management LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth about $64,403,000. JPMorgan Chase & Co. grew its position in shares of Kite Realty Group Trust by 23.3% in the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after purchasing an additional 2,308,613 shares in the last quarter. Aew Capital Management L P purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at $31,663,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock worth $36,150,000 after purchasing an additional 1,105,539 shares during the last quarter. 90.81% of the stock is currently 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 (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.