Zacks Investment Research lowered shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research note published on Saturday morning.

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 recently weighed in on KRG. Citigroup raised their price target on Kite Realty Group Trust from $16.50 to $17.00 and gave the company a neutral rating in a research note on Thursday, August 16th. Robert W. Baird cut Kite Realty Group Trust from an outperform rating to a neutral rating and set a $17.00 price target on the stock. in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $17.83.

Shares of NYSE KRG traded down $0.18 during mid-day trading on Friday, hitting $15.53. The company had a trading volume of 620,219 shares, compared to its average volume of 540,083. The stock has a market cap of $1.30 billion, a P/E ratio of 7.61, a PEG ratio of 1.80 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.04. Kite Realty Group Trust has a 1-year low of $13.87 and a 1-year high of $20.24.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.03. Kite Realty Group Trust had a negative return on equity of 1.14% and a negative net margin of 4.92%. The company had revenue of $91.70 million for the quarter, compared to analysts’ expectations of $88.08 million. During the same period last year, the firm earned $0.54 earnings per share. Kite Realty Group Trust’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Kite Realty Group Trust will post 2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, October 5th were paid a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a yield of 8.18%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 62.25%.

In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total value of $609,700.00. Following the sale, the chief executive officer now directly owns 68,588 shares in the company, valued at $1,194,802.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.93% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC purchased a new position in shares of Kite Realty Group Trust during the second quarter worth about $212,000. BB&T Securities LLC grew its holdings in shares of Kite Realty Group Trust by 36.2% during the second quarter. BB&T Securities LLC now owns 14,781 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 3,927 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Kite Realty Group Trust during the first quarter worth about $273,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Kite Realty Group Trust during the first quarter worth about $278,000. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Kite Realty Group Trust by 85.2% during the first quarter. Xact Kapitalforvaltning AB now owns 19,125 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 8,800 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.

Kite Realty Group Trust Company Profile

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 open-air shopping centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.

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