Kite Realty Group Trust (NYSE:KRG) Rating Increased to Buy at Zacks Investment Research

Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $22.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.02% from the stock’s previous close.

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 firms have also issued reports on KRG. Barclays PLC reduced their target price on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. BidaskClub raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, ValuEngine lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $26.86.

Kite Realty Group Trust (NYSE:KRG) traded up 0.05% on Friday, reaching $19.64. 841,676 shares of the company traded hands. The company has a 50-day moving average price of $18.78 and a 200-day moving average price of $20.96. The company’s market capitalization is $1.64 billion. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $30.45.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $90.10 million during the quarter, compared to analyst estimates of $88.31 million. Kite Realty Group Trust had a net margin of 0.05% and a return on equity of 0.01%. Kite Realty Group Trust’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. Equities research analysts expect that Kite Realty Group Trust will post ($0.05) EPS for the current year.

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Several hedge funds have recently modified their holdings of the company. Forsta AP Fonden raised its stake in shares of Kite Realty Group Trust by 185.1% in the second quarter. Forsta AP Fonden now owns 43,900 shares of the real estate investment trust’s stock worth $831,000 after buying an additional 28,500 shares in the last quarter. Private Capital Management Inc. raised its stake in shares of Kite Realty Group Trust by 10.3% in the second quarter. Private Capital Management Inc. now owns 18,200 shares of the real estate investment trust’s stock worth $344,000 after buying an additional 1,700 shares in the last quarter. Peregrine Capital Management LLC raised its stake in shares of Kite Realty Group Trust by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 396,887 shares of the real estate investment trust’s stock worth $7,513,000 after buying an additional 7,941 shares in the last quarter. Orinda Asset Management LLC bought a new stake in shares of Kite Realty Group Trust during the second quarter worth $1,893,000. Finally, Aperio Group LLC raised its stake in shares of Kite Realty Group Trust by 19.1% in the second quarter. Aperio Group LLC now owns 26,573 shares of the real estate investment trust’s stock worth $503,000 after buying an additional 4,264 shares in the last quarter. 93.35% of the stock is 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.

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

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