Kite Realty Group Trust (NYSE:KRG) Cut to "Hold" at Wall Street Zen

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

Several other research firms also recently weighed in on KRG. Raymond James Financial dropped their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company dropped their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $27.63.

Kite Realty Group Trust Trading Down 0.3%

Shares of KRG stock traded down $0.08 during trading on Friday, hitting $22.70. 3,018,712 shares of the stock traded hands, compared to its average volume of 1,706,861. The firm has a market capitalization of $4.99 billion, a P/E ratio of 324.31, a price-to-earnings-growth ratio of 5.80 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. The firm's fifty day moving average price is $22.26 and its 200-day moving average price is $22.77. Kite Realty Group Trust has a 52-week low of $18.52 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a net margin of 1.59% and a return on equity of 0.41%. As a group, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kite Realty Group Trust

Institutional investors have recently modified their holdings of the business. Smallwood Wealth Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the first quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Kite Realty Group Trust in the first quarter worth $25,000. Optiver Holding B.V. grew its stake in shares of Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares in the last quarter. FIL Ltd grew its stake in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 579 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of Kite Realty Group Trust in the first quarter worth $79,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Company Profile

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.