Kite Realty Group Trust (NYSE:KRG) Given New $26.00 Price Target at Raymond James

Kite Realty Group Trust (NYSE:KRG - Get Free Report) had its price objective decreased by investment analysts at Raymond James from $28.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "strong-buy" rating on the real estate investment trust's stock. Raymond James' price target would suggest a potential upside of 22.24% from the company's current price.

Several other equities analysts also recently commented on KRG. Wells Fargo & Company decreased their price target on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Piper Sandler reiterated a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Five 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.63.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock traded down $0.31 during trading hours on Friday, hitting $21.27. The company had a trading volume of 389,441 shares, compared to its average volume of 1,683,599. The firm has a 50-day moving average of $21.83 and a 200 day moving average of $23.61. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $4.68 billion, a PE ratio of 1,065.00, a PEG ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, sell-side analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently bought and sold shares of KRG. Barclays PLC raised its position in shares of Kite Realty Group Trust by 29.0% in the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust's stock valued at $25,139,000 after buying an additional 212,983 shares in the last quarter. Fifth Third Bancorp increased its stake in Kite Realty Group Trust by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust's stock valued at $465,000 after acquiring an additional 466 shares during the last quarter. Blue Trust Inc. raised its position in Kite Realty Group Trust by 34.6% during the fourth quarter. Blue Trust Inc. now owns 8,927 shares of the real estate investment trust's stock valued at $237,000 after purchasing an additional 2,294 shares in the last quarter. KBC Group NV lifted its stake in Kite Realty Group Trust by 38.4% during the fourth quarter. KBC Group NV now owns 8,210 shares of the real estate investment trust's stock worth $207,000 after purchasing an additional 2,277 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Kite Realty Group Trust by 3.5% during the fourth quarter. Pacer Advisors Inc. now owns 43,695 shares of the real estate investment trust's stock worth $1,103,000 after purchasing an additional 1,461 shares during the last quarter. Institutional investors 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.

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