Kite Realty Group Trust (NYSE:KRG) Lifted to “Outperform” at Robert W. Baird

Kite Realty Group Trust (NYSE:KRG) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Thursday, Analyst Price Targets reports. The brokerage presently has a $24.00 price target on the real estate investment trust’s stock, up from their previous price target of $21.00. Robert W. Baird’s price target would suggest a potential upside of 7.82% from the stock’s previous close.

A number of other research firms have also recently weighed in on KRG. Jefferies Financial Group started coverage on Kite Realty Group Trust in a report on Wednesday, October 27th. They set a “buy” rating and a $26.00 price target for the company. Zacks Investment Research raised Kite Realty Group Trust from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Tuesday, November 23rd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.29.

Shares of KRG opened at $22.26 on Thursday. Kite Realty Group Trust has a 1 year low of $15.52 and a 1 year high of $23.14. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $21.49 and a 200-day simple moving average of $21.00. The stock has a market cap of $4.88 billion, a PE ratio of 171.24, a PEG ratio of 1.70 and a beta of 1.37.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, October 28th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.41). Kite Realty Group Trust had a return on equity of 0.87% and a net margin of 3.80%. During the same period last year, the firm earned $0.30 earnings per share. On average, sell-side analysts forecast that Kite Realty Group Trust will post 1.38 EPS for the current fiscal year.

In other Kite Realty Group Trust news, CEO John A. Kite sold 25,000 shares of the stock in a transaction on Tuesday, December 21st. The stock was sold at an average price of $20.93, for a total value of $523,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Kite Realty Group Trust by 15.6% in the 3rd quarter. Van ECK Associates Corp now owns 3,889 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 525 shares during the last quarter. CWM Advisors LLC raised its stake in Kite Realty Group Trust by 3.1% during the 2nd quarter. CWM Advisors LLC now owns 19,008 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 576 shares during the period. PNC Financial Services Group Inc. raised its stake in Kite Realty Group Trust by 12.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,315 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 582 shares during the period. Pendal Group Ltd raised its stake in Kite Realty Group Trust by 1.3% during the 3rd quarter. Pendal Group Ltd now owns 48,100 shares of the real estate investment trust’s stock worth $979,000 after buying an additional 600 shares during the period. Finally, Profund Advisors LLC raised its stake in Kite Realty Group Trust by 6.1% during the 2nd quarter. Profund Advisors LLC now owns 11,487 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 659 shares during the period. Institutional investors and hedge funds own 39.61% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust operates as a real estate investment trust. It engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded on August 16, 2004 and is headquartered in Indianapolis, IN.

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

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