Kite Realty Group Trust's (KRG) Neutral Rating Reaffirmed 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)'s stock had its "neutral" rating restated by stock analysts at Piper Sandler in a report issued on Monday, Marketbeat.com reports. They currently have a $24.00 price objective on the real estate investment trust's stock, down from their previous price objective of $25.00. Piper Sandler's price objective suggests a potential upside of 13.58% from the company's previous close.

Several other research firms have also weighed in on KRG. Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note 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 report on Friday, May 23rd. Finally, UBS Group started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price for the company. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $27.11.

Kite Realty Group Trust Price Performance

Shares of KRG stock traded down $0.32 during mid-day trading on Monday, hitting $21.13. 149,636 shares of the stock traded hands, compared to its average volume of 1,891,454. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company's 50-day simple moving average is $22.48 and its 200-day simple moving average is $22.31. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 6.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. The business had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. As a group, equities research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KRG. Geode Capital Management LLC boosted its stake in shares of Kite Realty Group Trust by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust's stock valued at $133,183,000 after acquiring an additional 40,017 shares during the last quarter. Allworth Financial LP lifted its stake in Kite Realty Group Trust by 353.4% in the second quarter. Allworth Financial LP now owns 16,827 shares of the real estate investment trust's stock valued at $381,000 after buying an additional 13,116 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kite Realty Group Trust during the second quarter worth about $268,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Kite Realty Group Trust by 5.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,305 shares of the real estate investment trust's stock worth $3,586,000 after buying an additional 7,573 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of Kite Realty Group Trust by 30.7% in the second quarter. Metis Global Partners LLC now owns 36,362 shares of the real estate investment trust's stock worth $824,000 after purchasing an additional 8,534 shares in the last quarter. Hedge funds and other 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.