Kite Realty Group Trust (NYSE:KRG) Earns Neutral Rating from Piper Sandler

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “neutral” rating reaffirmed by research analysts at Piper Sandler in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $25.00 target price on the real estate investment trust’s stock, down from their previous target price of $33.00. Piper Sandler’s price target would indicate a potential upside of 11.63% from the stock’s current price.

KRG has been the topic of a number of other research reports. KeyCorp increased their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company dropped their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust has an average rating of “Hold” and an average target price of $28.13.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $22.40 on Thursday. The company has a market cap of $4.92 billion, a P/E ratio of -559.88, a PEG ratio of 3.63 and a beta of 1.27. The business has a 50-day moving average price of $24.29 and a two-hundred day moving average price of $25.45. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. As a group, analysts anticipate that Kite Realty Group Trust will post 2.06 EPS for the current year.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new stake in Kite Realty Group Trust in the 3rd quarter valued at about $7,486,000. Cerity Partners LLC increased its stake in Kite Realty Group Trust by 105.1% in the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock valued at $1,279,000 after buying an additional 24,679 shares during the last quarter. Versor Investments LP purchased a new stake in Kite Realty Group Trust in the 3rd quarter valued at about $537,000. Vanderbilt University increased its stake in shares of Kite Realty Group Trust by 115.2% during the 4th quarter. Vanderbilt University now owns 32,411 shares of the real estate investment trust’s stock worth $818,000 after purchasing an additional 17,348 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $631,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.