Kite Realty Group Trust (NYSE:KRG) Stock Rating Lowered by Wall Street Zen

Key Points

• Kite Realty Group Trust was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a negative outlook on the stock's performance.
• The company's stock currently has a consensus rating of "Hold" with eight analysts rating it as such, and an average price target of $26.50.
• CEO John A. Kite sold 50,000 shares of the company's stock, representing a 48.02% decrease in his position and raising concerns among investors about insider confidence.

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

KRG has been the subject of a number of other reports. Citigroup reissued a "neutral" rating and issued a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Weiss Ratings restated a "hold (c+)" rating on shares of Kite Realty Group Trust in a research note on Saturday, September 27th. UBS Group started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target for the company. Piper Sandler reaffirmed a "neutral" rating and set a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a "buy" rating and a $30.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Kite Realty Group Trust currently has a consensus rating of "Hold" and an average price target of $26.50.

Kite Realty Group Trust Stock Up 1.0%

Shares of Kite Realty Group Trust stock opened at $22.21 on Friday. The stock has a market cap of $4.88 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 6.09 and a beta of 1.15. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The business has a fifty day simple moving average of $22.21 and a 200 day simple moving average of $22.16. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91.

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 (EPS) for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Insider Transactions at Kite Realty Group Trust

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

Institutional Trading of Kite Realty Group Trust

A number of institutional investors and hedge funds have recently bought and sold shares of KRG. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kite Realty Group Trust during the first quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in Kite Realty Group Trust during the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC grew its holdings in Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 740 shares during the period. Finally, 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 during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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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