Kite Realty Group Trust (NYSE:KRG) Stock Rating Lowered by Wall Street Zen

Kite Realty Group Trust (NYSE:KRG) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Kite Realty Group Trust in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price on the stock. Piper Sandler reissued a “neutral” rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, Citigroup reissued a “neutral” rating and issued a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Hold” and an average price target of $26.70.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $22.18 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The company has a market cap of $4.88 billion, a P/E ratio of 34.65, a P/E/G ratio of 6.16 and a beta of 1.15. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The firm’s 50 day moving average is $22.39 and its two-hundred day moving average is $22.28.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $205.06 million for the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the sale, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of large investors have recently added to or reduced their stakes in the company. James Investment Research Inc. acquired a new stake in Kite Realty Group Trust during the 3rd quarter valued at $479,000. Y Intercept Hong Kong Ltd acquired a new stake in Kite Realty Group Trust during the 3rd quarter valued at $745,000. Resona Asset Management Co. Ltd. grew its holdings in Kite Realty Group Trust by 9.8% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 97,055 shares of the real estate investment trust’s stock valued at $2,140,000 after purchasing an additional 8,658 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Kite Realty Group Trust by 28.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 61,294 shares of the real estate investment trust’s stock valued at $1,367,000 after purchasing an additional 13,700 shares in the last quarter. Finally, Strs Ohio grew its holdings in Kite Realty Group Trust by 2.7% during the 3rd quarter. Strs Ohio now owns 998,258 shares of the real estate investment trust’s stock valued at $22,261,000 after purchasing an additional 26,700 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.