Kite Realty Group Trust (NYSE:KRG) Rating Increased to Buy at Jefferies Financial Group

Kite Realty Group Trust (NYSE:KRG) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Thursday, MarketBeat reports. The brokerage currently has a $23.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s target price suggests a potential upside of 14.48% from the company’s previous close.

A number of other research firms have also recently commented on KRG. StockNews.com raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Piper Sandler boosted their price target on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.50.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $20.09 on Thursday. The firm has a market cap of $4.41 billion, a PE ratio of 91.32, a price-to-earnings-growth ratio of 2.86 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a 52 week low of $19.16 and a 52 week high of $24.26. The business’s fifty day simple moving average is $21.05 and its 200-day simple moving average is $21.36.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Kite Realty Group Trust by 12.4% during the 1st quarter. BlackRock Inc. now owns 34,531,664 shares of the real estate investment trust’s stock worth $722,402,000 after purchasing an additional 3,818,524 shares in the last quarter. Norges Bank acquired a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $52,746,000. State Street Corp increased its stake in shares of Kite Realty Group Trust by 15.0% during the first quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust’s stock worth $300,695,000 after buying an additional 1,726,009 shares during the period. Macquarie Group Ltd. raised its holdings in Kite Realty Group Trust by 16.6% in the second quarter. Macquarie Group Ltd. now owns 8,943,429 shares of the real estate investment trust’s stock valued at $154,637,000 after acquiring an additional 1,275,585 shares in the last quarter. Finally, Strs Ohio lifted its stake in Kite Realty Group Trust by 156.6% in the fourth quarter. Strs Ohio now owns 1,869,278 shares of the real estate investment trust’s stock worth $42,731,000 after acquiring an additional 1,140,700 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.