Citigroup Reaffirms Neutral Rating for Kite Realty Group Trust (NYSE:KRG)

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “neutral” rating restated by analysts at Citigroup in a report released on Friday, MarketBeat Ratings reports. They currently have a $24.00 price target on the real estate investment trust’s stock, down from their previous price target of $28.00. Citigroup’s price objective points to a potential upside of 6.40% from the stock’s current price.

Several other research analysts have also weighed in on the company. Raymond James Financial reduced their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Friday, May 23rd. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price target on the stock. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. UBS Group initiated coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.50.

Kite Realty Group Trust Stock Performance

KRG stock opened at $22.56 on Friday. The business’s 50-day moving average price is $22.33 and its two-hundred day moving average price is $22.18. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.96 billion, a PE ratio of 28.55, a P/E/G ratio of 6.30 and a beta of 1.13. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Insider Activity

In related news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares of the company’s stock, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently modified their holdings of KRG. Geneos Wealth Management Inc. increased its position in Kite Realty Group Trust by 69.8% during the second quarter. Geneos Wealth Management Inc. now owns 15,268 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 6,276 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Kite Realty Group Trust by 5.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 494,672 shares of the real estate investment trust’s stock worth $11,213,000 after buying an additional 23,791 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Kite Realty Group Trust by 221.8% during the second quarter. Tower Research Capital LLC TRC now owns 31,520 shares of the real estate investment trust’s stock worth $714,000 after buying an additional 21,724 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Kite Realty Group Trust during the second quarter worth approximately $265,000. Finally, Lazard Asset Management LLC increased its position in Kite Realty Group Trust by 4.1% during the second quarter. Lazard Asset Management LLC now owns 49,448 shares of the real estate investment trust’s stock worth $1,119,000 after buying an additional 1,955 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

About Kite Realty Group Trust

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.