Kite Realty Group Trust (NYSE:KRG) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Kite Realty Group Trust was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, with analysts' consensus also reflecting a "hold" rating and a price target of $26.50.
• The company's stock price rose to $22.17, with a market capitalization of $4.87 billion and shares trading above its 12-month low of $18.51.
• CEO John A. Kite sold 50,000 shares, reducing his stake significantly, amid ongoing institutional investment activity which accounts for over 90% ownership in the company.

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

A number of other brokerages also recently weighed in on KRG. UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target on the stock. Wells Fargo & Company reduced their price target on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a research report on Tuesday, September 9th. They issued a "buy" rating and a $30.00 price target for the company. Citigroup reaffirmed a "neutral" rating and issued a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $26.50.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG traded up $0.17 on Friday, hitting $22.17. The company's stock had a trading volume of 2,028,420 shares, compared to its average volume of 1,912,196. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 6.09 and a beta of 1.13. The stock's 50-day moving average is $22.27 and its two-hundred day moving average is $22.15. 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $211.18 million for the quarter, compared to the consensus estimate 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. On average, equities research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company's stock.

Institutional Trading of Kite Realty Group Trust

Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its holdings in shares of Kite Realty Group Trust by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock worth $1,376,000 after purchasing an additional 500 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Kite Realty Group Trust by 5.3% during the 2nd quarter. Truist Financial Corp now owns 10,024 shares of the real estate investment trust's stock worth $227,000 after purchasing an additional 503 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Kite Realty Group Trust by 1.2% during the 1st 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 in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Kite Realty Group Trust by 0.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 131,664 shares of the real estate investment trust's stock worth $2,981,000 after purchasing an additional 641 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Kite Realty Group Trust by 3.1% in the 2nd quarter. Verdence Capital Advisors LLC now owns 22,302 shares of the real estate investment trust's stock valued at $505,000 after buying an additional 661 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

About Kite Realty Group Trust

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.