Kite Realty Group Trust (NYSE:KRG) Upgraded at Wall Street Zen

Key Points

• Kite Realty Group Trust has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Multiple analysts, including Citigroup and Piper Sandler, have set a target price of $24.00 for the stock, reflecting a downward adjustment from previous estimates.
• CEO John A. Kite recently sold 50,000 shares for over $1.13 million, reducing his ownership by 48.02%, raising potential concerns about insider confidence.

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

A number of other research analysts have also issued reports on KRG. Citigroup restated a "neutral" rating and set a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Piper Sandler restated a "neutral" rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wells Fargo & Company decreased their target price on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. 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 target price on the stock. Finally, UBS Group assumed coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.50.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $21.34 on Friday. The company's 50 day moving average price is $22.16 and its two-hundred day moving average price is $22.14. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The firm has a market cap of $4.69 billion, a PE ratio of 27.01, a PEG ratio of 5.91 and a beta of 1.15. 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 announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The firm had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Equities research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John A. Kite sold 50,000 shares of the 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 owned 54,121 shares of the company's stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kite Realty Group Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp raised its stake in shares of Kite Realty Group Trust by 52.5% during the first quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust's stock valued at $1,244,000 after acquiring an additional 19,132 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Kite Realty Group Trust by 332.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock valued at $33,776,000 after acquiring an additional 1,160,694 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Kite Realty Group Trust by 1,523.9% during the first quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust's stock valued at $1,739,000 after acquiring an additional 72,949 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Kite Realty Group Trust during the first quarter valued at $795,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Kite Realty Group Trust by 516.1% during the first quarter. Allianz Asset Management GmbH now owns 623,772 shares of the real estate investment trust's stock valued at $13,954,000 after acquiring an additional 522,529 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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