Wall Street Zen Downgrades Kite Realty Group Trust (NYSE:KRG) to Hold

Kite Realty Group Trust (NYSE:KRG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

A number of other equities analysts have also issued reports 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 for the company in a research note on Friday, May 23rd. Wells Fargo & Company reduced their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.63.

Kite Realty Group Trust Stock Performance

Shares of KRG remained flat at $22.67 during midday trading on Friday. The stock had a trading volume of 1,876,308 shares, compared to its average volume of 1,701,076. The firm has a market cap of $4.98 billion, a PE ratio of 323.86, a price-to-earnings-growth ratio of 5.78 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.89. The company's 50-day moving average is $22.32 and its two-hundred day moving average is $22.67. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. On average, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Kite Realty Group Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock valued at $845,708,000 after buying an additional 256,476 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after buying an additional 2,308,613 shares during the last quarter. Centersquare Investment Management LLC grew its position in shares of Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock valued at $133,327,000 after acquiring an additional 3,408,442 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Kite Realty Group Trust by 8.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust's stock valued at $130,615,000 after purchasing an additional 459,752 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Kite Realty Group Trust by 17.1% in the 4th quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock valued at $98,074,000 after purchasing an additional 567,284 shares in the last quarter. Hedge funds and other institutional investors 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.