Kite Realty Group Trust (NYSE:KRG) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research note released on Tuesday, October 24th.

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. “

A number of other research analysts have also recently commented on the stock. ValuEngine raised shares of Kite Realty Group Trust from a hold rating to a buy rating in a research report on Friday, October 6th. 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, BidaskClub raised shares of Kite Realty Group Trust from a hold rating to a buy rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Kite Realty Group Trust has an average rating of Buy and an average target price of $25.33.

Kite Realty Group Trust (NYSE KRG) opened at $19.34 on Tuesday. The firm has a market cap of $1,616.71, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 2.04 and a beta of 0.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.90 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.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Kite Realty Group Trust had a net margin of 3.60% and a return on equity of 0.80%. The firm had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $88.16 million. During the same period in the previous year, the company posted $0.52 earnings per share. Kite Realty Group Trust’s revenue was down 2.2% compared to the same quarter last year. equities research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

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Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of Kite Realty Group Trust by 60.8% in the third quarter. Wells Fargo & Company MN now owns 104,504 shares of the real estate investment trust’s stock worth $2,115,000 after buying an additional 39,532 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Kite Realty Group Trust by 106.1% in the third quarter. Citadel Advisors LLC now owns 120,999 shares of the real estate investment trust’s stock worth $2,450,000 after buying an additional 62,291 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Kite Realty Group Trust in the third quarter worth $223,000. Virginia Retirement Systems ET AL increased its stake in shares of Kite Realty Group Trust by 44.6% in the third quarter. Virginia Retirement Systems ET AL now owns 117,100 shares of the real estate investment trust’s stock worth $2,371,000 after buying an additional 36,100 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Kite Realty Group Trust by 13.0% in the third quarter. Legal & General Group Plc now owns 384,160 shares of the real estate investment trust’s stock worth $7,781,000 after buying an additional 44,130 shares during the last quarter. Institutional investors and hedge funds own 95.68% of the company’s stock.

About Kite Realty Group Trust

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.

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

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