Wells Fargo & Company Issues Pessimistic Forecast for Kite Realty Group Trust (NYSE:KRG) Stock Price

Kite Realty Group Trust (NYSE:KRG) had its price target lowered by Wells Fargo & Company from $28.00 to $26.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

KRG has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. KeyCorp lifted their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird lifted their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

Kite Realty Group Trust Trading Down 2.0 %

NYSE:KRG opened at $23.29 on Wednesday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The business has a fifty day moving average of $25.21 and a 200-day moving average of $25.51. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.43). The firm had revenue of $207.25 million for the quarter, compared to analyst estimates of $210.39 million. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. During the same period in the previous year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that Kite Realty Group Trust will post 2.07 earnings per share for the current year.

Hedge Funds Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its position in shares of Kite Realty Group Trust by 819.0% in 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 during the period. Wilmington Savings Fund Society FSB acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth about $39,000. Strategic Investment Solutions Inc. IL acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth about $45,000. Quarry LP boosted 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 acquiring an additional 1,167 shares during the period. Finally, Versant Capital Management Inc boosted its position in Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.