Jefferies Financial Group Upgrades Kite Realty Group Trust (NYSE:KRG) to Buy

Kite Realty Group Trust (NYSE:KRG) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a $23.00 target price on the real estate investment trust’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 10.10% from the stock’s current price.

A number of other analysts have also recently weighed in on KRG. Piper Sandler upped their target price on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.50.

Kite Realty Group Trust Trading Up 1.6 %

Shares of Kite Realty Group Trust stock opened at $20.89 on Thursday. The company’s fifty day moving average price is $21.02 and its two-hundred day moving average price is $21.36. The firm has a market capitalization of $4.59 billion, a PE ratio of 94.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.29. Kite Realty Group Trust has a 52-week low of $19.16 and a 52-week high of $24.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.76 and a quick ratio of 0.76.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning grew its holdings in shares of Kite Realty Group Trust by 4.8% during the third quarter. Creative Planning now owns 11,783 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 535 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Kite Realty Group Trust by 2.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 24,241 shares of the real estate investment trust’s stock worth $507,000 after buying an additional 555 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Kite Realty Group Trust by 4.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 14,619 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 576 shares during the last quarter. Lazard Asset Management LLC increased its position in Kite Realty Group Trust by 14.6% in the 3rd quarter. Lazard Asset Management LLC now owns 4,977 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 634 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Kite Realty Group Trust by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 78,300 shares of the real estate investment trust’s stock valued at $1,677,000 after acquiring an additional 639 shares in 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.