Kite Realty Group Trust (NYSE:KRG) Price Target Raised to $28.00 at Wells Fargo & Company

Kite Realty Group Trust (NYSE:KRG) had its price target increased by equities researchers at Wells Fargo & Company from $25.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 10.82% from the stock’s previous close.

A number of other analysts have also recently weighed in on KRG. Robert W. Baird increased their price target on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Jefferies Financial Group restated a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. UBS Group reiterated a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Weiss Ratings upgraded shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Hold” and an average target price of $26.38.

Kite Realty Group Trust Stock Performance

KRG traded up $0.02 on Thursday, hitting $25.27. 70,745 shares of the company’s stock were exchanged, compared to its average volume of 1,922,997. The firm has a market cap of $5.22 billion, a PE ratio of 18.33, a P/E/G ratio of 4.64 and a beta of 0.86. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $26.38. The stock has a fifty day moving average of $24.71 and a two-hundred day moving average of $23.42. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Kite Realty Group Trust by 32.2% in the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock worth $1,797,000 after purchasing an additional 19,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kite Realty Group Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock valued at $2,893,000 after purchasing an additional 5,666 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth $268,000. Geode Capital Management LLC lifted its holdings in shares of Kite Realty Group Trust by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock valued at $133,183,000 after buying an additional 40,017 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Kite Realty Group Trust by 7.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 49,631 shares of the real estate investment trust’s stock valued at $1,124,000 after buying an additional 3,347 shares during the period. 90.81% of the stock is 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.