ValuEngine downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research note published on Saturday morning, ValuEngine reports.

Several other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a sell rating to a hold rating in a report on Friday, June 14th. Citigroup set a $16.00 target price on shares of Kite Realty Group Trust and gave the company a hold rating in a report on Monday, May 20th. Bank of America downgraded shares of Kite Realty Group Trust from a neutral rating to an underperform rating in a report on Monday, March 4th. Finally, Raymond James downgraded shares of Kite Realty Group Trust from an outperform rating to a market perform rating in a report on Tuesday, February 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $16.33.

KRG opened at $15.02 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.35 and a current ratio of 1.35. The business’s fifty day simple moving average is $15.82. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $17.75. The firm has a market capitalization of $1.27 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 1.85 and a beta of 0.83.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $83.52 million during the quarter, compared to the consensus estimate of $81.50 million. Kite Realty Group Trust had a negative net margin of 6.59% and a negative return on equity of 1.59%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, analysts forecast that Kite Realty Group Trust will post 1.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be issued a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $1.27 annualized dividend and a dividend yield of 8.46%. Kite Realty Group Trust’s dividend payout ratio is currently 63.50%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Kite Realty Group Trust by 3.8% during the fourth quarter. BlackRock Inc. now owns 14,570,902 shares of the real estate investment trust’s stock valued at $205,305,000 after buying an additional 527,076 shares during the period. Macquarie Group Ltd. grew its position in Kite Realty Group Trust by 10.1% during the fourth quarter. Macquarie Group Ltd. now owns 4,167,496 shares of the real estate investment trust’s stock valued at $58,720,000 after buying an additional 382,542 shares during the period. Investment Counselors of Maryland LLC grew its position in Kite Realty Group Trust by 2.0% during the fourth quarter. Investment Counselors of Maryland LLC now owns 1,675,870 shares of the real estate investment trust’s stock valued at $23,613,000 after buying an additional 32,171 shares during the period. Norges Bank bought a new position in Kite Realty Group Trust during the fourth quarter valued at about $16,934,000. Finally, Geode Capital Management LLC grew its position in Kite Realty Group Trust by 10.2% during the fourth quarter. Geode Capital Management LLC now owns 1,145,816 shares of the real estate investment trust’s stock valued at $16,144,000 after buying an additional 106,004 shares during the period. Institutional investors own 92.10% 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 neighborhood, community, and lifestyle centers.

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

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