Wells Fargo & Company Cuts Kite Realty Group Trust (NYSE:KRG) Price Target to $26.00

Kite Realty Group Trust (NYSE:KRG) had its price target trimmed by Wells Fargo & Company from $28.00 to $26.00 in a report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on KRG. JPMorgan Chase & Co. lowered their price target on 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. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. 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 research report on Tuesday, November 12th. Finally, Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Kite Realty Group Trust Stock Down 1.6 %

KRG opened at $23.15 on Wednesday. The firm has a market cap of $5.09 billion, a P/E ratio of -578.75, a price-to-earnings-growth ratio of 3.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The business has a 50 day moving average price of $25.05 and a 200 day moving average price of $25.49. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.43). The firm had revenue of $207.25 million for the quarter, compared to the consensus estimate of $210.39 million. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. During the same period in the prior year, the company posted $0.51 earnings per share. Research analysts forecast that Kite Realty Group Trust will post 2.07 EPS for the current year.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. increased its position in Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 950 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $39,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $45,000. Quarry LP raised its stake in shares of Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,080 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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.