Kite Realty Group Trust (NYSE:KRG) Rating Lowered to Sell at Wall Street Zen

Key Points

• Kite Realty Group Trust has been downgraded from a "hold" rating to a "sell" rating by investment analysts at Wall Street Zen.
• The company has a market capitalization of $5.12 billion and reported an earnings per share (EPS) of $0.51 for the last quarter, meeting analysts' expectations.
• Insider trading activity includes CEO John A. Kite selling 50,000 shares for approximately $1.14 million, representing a significant decrease in his ownership.

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

Other equities analysts have also recently issued research reports about the company. Piper Sandler reissued a "neutral" rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Raymond James Financial dropped 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 report on Friday, May 23rd. Finally, UBS Group assumed coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Hold" and a consensus price target of $26.78.

Kite Realty Group Trust Stock Up 0.8%

Shares of KRG traded up $0.18 during trading hours on Friday, hitting $22.77. 1,328,956 shares of the company were exchanged, compared to its average volume of 1,512,968. The company has a market cap of $5.01 billion, a PE ratio of 28.82, a PEG ratio of 6.26 and a beta of 1.13. The firm's 50 day moving average is $22.34 and its 200-day moving average is $22.18. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24. 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 released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The company had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John A. Kite sold 50,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares of the company's stock, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of KRG. Louisiana State Employees Retirement System raised its position in shares of Kite Realty Group Trust by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock valued at $1,376,000 after buying an additional 500 shares in the last quarter. Truist Financial Corp raised its position in Kite Realty Group Trust by 5.3% during the second quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust's stock valued at $227,000 after purchasing an additional 503 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Kite Realty Group Trust by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock worth $806,000 after buying an additional 556 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Kite Realty Group Trust by 1.2% in the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock worth $1,177,000 after purchasing an additional 600 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Kite Realty Group Trust by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust's stock valued at $460,000 after acquiring an additional 613 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.