Kite Realty Group Trust (NYSE:KRG) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS raised its price target on Kite Realty Group Trust from $26 to $27, while keeping a neutral rating; the new target implies about 4.9% upside from the prior close.
• Analyst sentiment is broadly cautious: the consensus rating is Hold, with an average price target of $27.89. Two analysts rate the stock Buy, eight Hold, and one Sell.
• Kite Realty’s latest quarter missed expectations, reporting a loss of $0.07 per share versus expected earnings of $0.08, and revenue of $190.28 million versus a $195.62 million estimate.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) had its target price boosted by analysts at UBS Group from $26.00 to $27.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's target price points to a potential upside of 4.87% from the stock's previous close.

Several other research analysts also recently weighed in on KRG. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Saturday, October 31st. JPMorgan Chase & Co. cut Kite Realty Group Trust from a "neutral" rating to an "underweight" rating and set a $27.00 price target on the stock. in a report on Thursday, September 24th. KeyCorp cut Kite Realty Group Trust from an "overweight" rating to a "sector weight" rating in a report on Tuesday, August 18th. Citigroup restated a "neutral" rating and issued a $31.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research report on Monday, August 3rd. Finally, Wells Fargo & Company set a $27.00 target price on Kite Realty Group Trust and gave the company an "overweight" rating in a research note on Friday, October 23rd. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Hold" and an average price target of $27.89.

Kite Realty Group Trust Stock Performance

NYSE:KRG traded down $0.14 during mid-day trading on Wednesday, reaching $25.75. The company's stock had a trading volume of 2,037,510 shares, compared to its average volume of 2,148,128. Kite Realty Group Trust has a 12-month low of $21.89 and a 12-month high of $29.92. The firm's fifty day moving average price is $25.03 and its two-hundred day moving average price is $26.15. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.02. The stock has a market cap of $5.10 billion, a P/E ratio of 15.89, a PEG ratio of 4.65 and a beta of 0.90.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.15). The company had revenue of $190.28 million for the quarter, compared to the consensus estimate of $195.62 million. Kite Realty Group Trust had a net margin of 42.95% and a return on equity of 11.78%. On average, equities analysts forecast that Kite Realty Group Trust will post 2.10 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Kite Realty Group Trust during the first quarter valued at approximately $1,785,000. Allianz Asset Management GmbH increased its holdings in Kite Realty Group Trust by 36.0% during the second quarter. Allianz Asset Management GmbH now owns 226,170 shares of the real estate investment trust's stock valued at $6,419,000 after buying an additional 59,922 shares during the period. Susquehanna International Group LLP raised its stake in Kite Realty Group Trust by 65.5% in the second quarter. Susquehanna International Group LLP now owns 156,514 shares of the real estate investment trust's stock worth $4,442,000 after buying an additional 61,948 shares in the last quarter. SummitTX Capital L.P. raised its stake in Kite Realty Group Trust by 45.4% in the first quarter. SummitTX Capital L.P. now owns 355,188 shares of the real estate investment trust's stock worth $8,720,000 after buying an additional 110,852 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Kite Realty Group Trust during the second quarter worth $5,065,000. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a real estate investment trust that owns, operates, and develops open-air shopping centers and mixed-use properties. Its portfolio includes neighborhood and community centers, many of which are anchored by grocery stores and other essential retailers. The company leases space to retailers and service businesses and works to manage, maintain, and redevelop its properties. Its centers serve communities in Sun Belt markets and other selected regions across the United States.

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