Kite Realty Group Trust (NYSE:KRG) Price Target Cut to $24.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler has reduced the price target for Kite Realty Group Trust from $25.00 to $24.00, maintaining a "neutral" rating, which indicates a potential upside of 9.85% from the stock's previous close.
• Several brokerages have adjusted their ratings on Kite Realty Group Trust, with Wall Street Zen downgrading it from "buy" to "hold," and Raymond James lowering its target price to $26.00 while still offering a "strong-buy" rating.
• Kite Realty Group Trust's shares have seen significant trading activity, with a recent increase of 1.0% bringing the share price to $21.85, while the company reports a market capitalization of $4.80 billion.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) had its price objective dropped by equities research analysts at Piper Sandler from $25.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's target price would suggest a potential upside of 9.85% from the stock's previous close.

Several other brokerages have also recently commented on KRG. Wall Street Zen cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Raymond James Financial cut 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 research note on Friday, May 23rd. Finally, UBS Group assumed coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price for the company. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.11.

Kite Realty Group Trust Trading Up 1.0%

Shares of KRG traded up $0.21 on Monday, reaching $21.85. 292,479 shares of the company's stock were exchanged, compared to its average volume of 1,896,926. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.80 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 6.57 and a beta of 1.16. The business has a 50 day moving average price of $22.49 and a two-hundred day moving average price of $22.35. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Research analysts anticipate 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

Large investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Kite Realty Group Trust during the first quarter valued at $25,000. Smallwood Wealth Investment Management LLC bought a new position in Kite Realty Group Trust during the 1st quarter worth about $25,000. Ameritas Advisory Services LLC bought a new position in Kite Realty Group Trust during the 2nd quarter worth about $30,000. UMB Bank n.a. grew its holdings in Kite Realty Group Trust by 103.0% during the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 1,323 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Kite Realty Group Trust by 44.0% during the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 908 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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