Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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 equities analysts have also recently weighed in on KRG. Citigroup lifted their price target on Kite Realty Group Trust from $16.50 to $17.00 and gave the stock 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, October 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Kite Realty Group Trust presently has an average rating of “Hold” and a consensus target price of $17.83.

Shares of KRG opened at $15.80 on Wednesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.87 and a beta of 0.50. Kite Realty Group Trust has a 1-year low of $13.87 and a 1-year high of $20.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 0.89.

In other Kite Realty Group Trust news, CEO John A. Kite sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $17.42, for a total transaction of $609,700.00. Following the completion of the sale, the chief executive officer now directly owns 68,588 shares in the company, valued at approximately $1,194,802.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.93% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ramsey Quantitative Systems acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth about $366,000. Private Advisor Group LLC acquired a new stake in Kite Realty Group Trust during the 2nd quarter worth about $212,000. Goodwin Daniel L boosted its position in Kite Realty Group Trust by 15.4% during the 3rd quarter. Goodwin Daniel L now owns 45,379 shares of the real estate investment trust’s stock worth $756,000 after acquiring an additional 6,047 shares during the period. Bank of America Corp DE boosted its position in Kite Realty Group Trust by 12.5% during the 2nd quarter. Bank of America Corp DE now owns 910,250 shares of the real estate investment trust’s stock worth $15,547,000 after acquiring an additional 101,111 shares during the period. Finally, Securian Asset Management Inc acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth about $788,000. Hedge funds and other institutional investors own 92.84% 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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