Wall Street Zen Upgrades Kite Realty Group Trust (NYSE:KRG) to “Hold”

Kite Realty Group Trust (NYSE:KRG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Jefferies Financial Group reissued a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Weiss Ratings raised shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Finally, Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $25.63.

Kite Realty Group Trust Stock Performance

KRG opened at $25.92 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The firm has a market cap of $5.36 billion, a PE ratio of 18.78, a P/E/G ratio of 6.51 and a beta of 0.91. The business has a fifty day simple moving average of $24.01 and a 200-day simple moving average of $22.93. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $26.13.

Institutional Trading of Kite Realty Group Trust

Several institutional investors have recently made changes to their positions in KRG. State of Wyoming acquired a new position in shares of Kite Realty Group Trust in the 3rd quarter worth approximately $516,000. Candriam S.C.A. acquired a new stake in Kite Realty Group Trust in the 3rd quarter valued at $2,066,000. Envestnet Asset Management Inc. grew its position in Kite Realty Group Trust by 22.4% in the third quarter. Envestnet Asset Management Inc. now owns 300,382 shares of the real estate investment trust’s stock valued at $6,699,000 after acquiring an additional 54,914 shares during the period. AlphaQuest LLC raised its stake in Kite Realty Group Trust by 227.5% during the third quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust’s stock worth $1,403,000 after acquiring an additional 43,716 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Kite Realty Group Trust during the second quarter worth $1,882,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.