Piper Sandler Reaffirms “Neutral” Rating for Kite Realty Group Trust (NYSE:KRG)

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $25.00 price target on the real estate investment trust’s stock, down from their previous price target of $33.00. Piper Sandler’s price target points to a potential upside of 8.89% from the stock’s current price.

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

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $22.96 on Thursday. 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 12-month low of $19.64 and a 12-month high of $28.24. The business’s 50 day moving average is $24.44 and its two-hundred day moving average is $25.49. The company has a market capitalization of $5.04 billion, a P/E ratio of -574.00, a P/E/G ratio of 3.63 and a beta of 1.27.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Kite Realty Group Trust will post 2.06 EPS for the current fiscal year.

Institutional Trading of Kite Realty Group Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Asset Management Inc. acquired a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at about $7,486,000. Cerity Partners LLC raised its stake in Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares during the period. Versor Investments LP acquired a new position in Kite Realty Group Trust in the 3rd quarter valued at about $537,000. Quest Partners LLC purchased a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at approximately $631,000. Finally, Vanderbilt University increased its holdings 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 buying an additional 17,348 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.