Robert W. Baird Raises Kite Realty Group Trust (NYSE:KRG) Price Target to $29.00

Kite Realty Group Trust (NYSE:KRG) had its target price lifted by stock analysts at Robert W. Baird from $26.00 to $29.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price suggests a potential upside of 8.05% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. KeyCorp raised their target price 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. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Compass Point lifted their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $26.84 on Friday. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.94. The company has a market capitalization of $5.90 billion, a P/E ratio of -671.00, a PEG ratio of 4.16 and a beta of 1.29. The business has a 50 day moving average price of $26.27 and a 200 day moving average price of $24.10. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Insider Buying and Selling at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

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

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.