KeyCorp Forecasts Strong Price Appreciation for Kite Realty Group Trust (NYSE:KRG) Stock

Kite Realty Group Trust (NYSE:KRG) had its target price lifted by investment analysts at KeyCorp from $28.00 to $31.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price objective points to a potential upside of 13.68% from the stock’s current price.

A number of other research firms also recently issued reports on KRG. Piper Sandler lifted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Compass Point lifted their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research note on Friday, August 16th. Finally, Robert W. Baird raised their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust currently has a consensus rating of “Moderate Buy” and an average target price of $28.43.

Kite Realty Group Trust Stock Up 0.1 %

KRG opened at $27.27 on Tuesday. The business has a 50 day simple moving average of $26.27 and a 200-day simple moving average of $24.10. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.94. The stock has a market capitalization of $5.99 billion, a P/E ratio of -681.75, a P/E/G ratio of 4.16 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Insiders Place Their Bets

In related news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Kite Realty Group Trust

Several institutional investors have recently made changes to their positions in KRG. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth about $45,000. Quarry LP increased its position in Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new position in Kite Realty Group Trust in the first quarter valued at approximately $52,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

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.