Wall Street Zen Upgrades Kite Realty Group Trust (NYSE:KRG) to "Buy"

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

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Raymond James dropped 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, Piper Sandler restated a "neutral" rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.63.

Kite Realty Group Trust Stock Performance

NYSE KRG traded up $0.67 during trading on Friday, reaching $22.57. The company's stock had a trading volume of 2,995,238 shares, compared to its average volume of 1,697,902. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 1,128.25, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. Kite Realty Group Trust has a 12 month low of $18.52 and a 12 month high of $28.24. The firm has a 50 day moving average price of $21.73 and a 200 day moving average price of $23.22.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, equities analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Kite Realty Group Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 33,506,648 shares of the real estate investment trust's stock worth $845,708,000 after purchasing an additional 256,476 shares in the last quarter. JPMorgan Chase & Co. increased its position in Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after purchasing an additional 2,308,613 shares in the last quarter. Centersquare Investment Management LLC increased its position in Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock worth $133,327,000 after purchasing an additional 3,408,442 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Kite Realty Group Trust by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust's stock worth $130,615,000 after purchasing an additional 459,752 shares in the last quarter. Finally, Millennium Management LLC increased its position in Kite Realty Group Trust by 17.1% during the 4th quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock worth $98,074,000 after purchasing an additional 567,284 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.

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