Kite Realty Group Trust (NYSE:KRG) Given Average Recommendation of “Hold” by Brokerages

Kite Realty Group Trust (NYSE:KRG) has been given a consensus recommendation of “Hold” by the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.63.

A number of analysts recently weighed in on KRG shares. DA Davidson reaffirmed a “neutral” rating on shares of Kite Realty Group Trust in a report on Monday, July 29th. Citigroup set a $16.00 price objective on shares of Kite Realty Group Trust and gave the stock a “hold” rating in a report on Monday, May 20th. Compass Point started coverage on shares of Kite Realty Group Trust in a report on Thursday. They issued a “sell” rating and a $13.50 price objective on the stock. ValuEngine cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, June 22nd. Finally, Zacks Investment Research raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Friday, June 14th.

Shares of Kite Realty Group Trust stock traded up $0.08 during trading hours on Friday, reaching $14.64. The company’s stock had a trading volume of 331,900 shares, compared to its average volume of 471,656. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.32 and a current ratio of 1.32. Kite Realty Group Trust has a one year low of $13.66 and a one year high of $17.75. The company’s 50 day simple moving average is $15.37 and its 200 day simple moving average is $15.78. The stock has a market cap of $1.24 billion, a P/E ratio of 7.32, a price-to-earnings-growth ratio of 1.79 and a beta of 0.81.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. Kite Realty Group Trust had a negative net margin of 6.92% and a negative return on equity of 1.66%. The business had revenue of $81.48 million for the quarter, compared to analysts’ expectations of $79.95 million. During the same quarter last year, the company earned $0.53 EPS. The company’s revenue for the quarter was down 11.2% compared to the same quarter last year. On average, sell-side analysts predict that Kite Realty Group Trust will post 1.65 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Kite Realty Group Trust by 30.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,475,200 shares of the real estate investment trust’s stock valued at $37,450,000 after buying an additional 580,700 shares during the period. Invesco Ltd. increased its stake in Kite Realty Group Trust by 9.9% during the 2nd quarter. Invesco Ltd. now owns 2,030,496 shares of the real estate investment trust’s stock valued at $30,721,000 after buying an additional 182,824 shares during the period. Investment Counselors of Maryland LLC increased its stake in Kite Realty Group Trust by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,762,360 shares of the real estate investment trust’s stock valued at $26,665,000 after buying an additional 18,442 shares during the period. Nuveen Asset Management LLC increased its stake in Kite Realty Group Trust by 22.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,620,277 shares of the real estate investment trust’s stock valued at $24,514,000 after buying an additional 297,063 shares during the period. Finally, Northern Trust Corp increased its stake in Kite Realty Group Trust by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,557,046 shares of the real estate investment trust’s stock valued at $23,558,000 after buying an additional 27,276 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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