JPMorgan Chase & Co. Downgrades Kite Realty Group Trust (NYSE:KRG) to Underweight

Key Points

• JPMorgan downgraded Kite Realty Group Trust to “underweight” from “neutral” and set a $27 price target, implying approximately 9.3% upside from the reported $24.70 share price.
• Analyst sentiment remains mixed: the stock has an average “hold” rating and a consensus price target of $29.62, with three buys, seven holds and one sell.
• Kite Realty reported quarterly EPS of $0.79, substantially exceeding the $0.11 consensus estimate, while revenue of $196.26 million was slightly below expectations. Institutional investors own approximately 90.81% of the company.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $27.00 target price on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 9.31% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler reiterated a "neutral" rating and issued a $33.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. Jefferies Financial Group upgraded Kite Realty Group Trust to a "hold" rating in a research note on Friday, June 26th. LADENBURG THALM/SH SH increased their price target on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, KeyCorp downgraded shares of Kite Realty Group Trust from an "overweight" rating to a "sector weight" rating in a report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kite Realty Group Trust has an average rating of "Hold" and a consensus target price of $29.62.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $24.70 on Thursday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.61 and a current ratio of 1.61. Kite Realty Group Trust has a fifty-two week low of $21.33 and a fifty-two week high of $29.92. The firm's 50-day simple moving average is $26.90 and its 200 day simple moving average is $26.78.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.68. The company had revenue of $196.26 million for the quarter, compared to analysts' expectations of $197.32 million. Kite Realty Group Trust had a return on equity of 11.26% and a net margin of 41.80%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, research analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KRG. Cohen & Steers Inc. grew its stake in shares of Kite Realty Group Trust by 26.3% in the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust's stock worth $630,805,000 after purchasing an additional 5,486,116 shares during the last quarter. Centersquare Investment Management LLC increased its stake in shares of Kite Realty Group Trust by 1.3% during the fourth quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust's stock valued at $197,436,000 after buying an additional 105,830 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Kite Realty Group Trust by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,200,466 shares of the real estate investment trust's stock valued at $78,572,000 after acquiring an additional 10,289 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its stake in Kite Realty Group Trust by 9.4% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,080,378 shares of the real estate investment trust's stock worth $73,837,000 after acquiring an additional 265,188 shares during the period. Finally, Norges Bank bought a new stake in Kite Realty Group Trust in the fourth quarter valued at $61,863,000. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that owns, develops, redevelops, acquires and operates open-air shopping centers in the United States. Its portfolio is primarily focused on grocery-anchored and other necessity-based retail properties, along with select mixed-use assets.

The company leases space to a variety of retailers, restaurants, service providers and other tenants. Its properties are generally located in established, high-growth communities and are designed to serve everyday consumer needs.

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