ValuEngine Downgrades Kite Realty Group Trust (NYSE:KRG) to Sell

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ValuEngine cut shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Several other equities research analysts also recently weighed in on KRG. Zacks Investment Research raised Kite Realty Group Trust from a sell rating to a hold rating in a report on Tuesday, November 12th. Sandler O’Neill raised shares of Kite Realty Group Trust from a hold rating to a buy rating in a report on Wednesday, November 27th. Barclays set a $16.00 target price on shares of Kite Realty Group Trust and gave the company a hold rating in a report on Friday, October 11th. Finally, Compass Point downgraded shares of Kite Realty Group Trust from a neutral rating to a sell rating and set a $18.00 price target for the company. in a research report on Monday, November 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $17.00.

Shares of NYSE KRG opened at $19.16 on Tuesday. The stock has a market cap of $1.62 billion, a PE ratio of 9.58 and a beta of 0.85. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.92. Kite Realty Group Trust has a 52-week low of $13.66 and a 52-week high of $19.77. The business has a 50-day moving average price of $18.16 and a 200 day moving average price of $16.15.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $74.94 million for the quarter, compared to analysts’ expectations of $76.16 million. Kite Realty Group Trust had a negative return on equity of 3.45% and a negative net margin of 14.39%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. Sell-side analysts anticipate that Kite Realty Group Trust will post 1.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Thursday, December 19th. Kite Realty Group Trust’s dividend payout ratio is currently 63.50%.

In related news, CEO John A. Kite sold 17,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $15.85, for a total transaction of $269,450.00. Following the completion of the sale, the chief executive officer now directly owns 30,610 shares of the company’s stock, valued at $485,168.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John A. Kite sold 12,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $18.78, for a total value of $234,750.00. Following the sale, the chief executive officer now directly owns 26,110 shares of the company’s stock, valued at $490,345.80. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in KRG. Advisory Services Network LLC acquired a new stake in Kite Realty Group Trust in the second quarter valued at about $31,000. Weaver Consulting Group acquired a new position in Kite Realty Group Trust during the 2nd quarter worth approximately $49,000. HM Payson & Co. purchased a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $50,000. Tower Research Capital LLC TRC raised its stake in shares of Kite Realty Group Trust by 227.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,132 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 4,257 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Kite Realty Group Trust in the 2nd quarter valued at approximately $106,000. 91.26% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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