Wells Fargo & Company Issues Pessimistic Forecast for Kite Realty Group Trust (NYSE:KRG) Stock Price

Key Points

• Wells Fargo & Company has lowered its price target for Kite Realty Group Trust's stock from $24.00 to $23.00, indicating a potential upside of just 2.30% from its previous close.
• Analysts currently have mixed ratings for Kite Realty Group Trust, with one Strong Buy, two Buy, and six Hold ratings, as the consensus rating remains "Hold" with an average target of $27.00.
• Kite Realty Group Trust reported quarterly earnings of $0.51 per share, meeting analysts' expectations, while revenue came in slightly below estimates at $211.18 million.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) had its price target dropped by research analysts at Wells Fargo & Company from $24.00 to $23.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price indicates a potential upside of 2.30% from the stock's previous close.

Several other research analysts have also issued reports on KRG. UBS Group started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target on the stock. Raymond James Financial cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Friday, May 23rd. Piper Sandler reiterated a "neutral" rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of "Hold" and an average price target of $27.00.

Kite Realty Group Trust Stock Up 0.5%

KRG opened at $22.48 on Wednesday. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 6.19 and a beta of 1.16. The business has a 50-day moving average of $22.33 and a two-hundred day moving average of $22.16.

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 EPS for the quarter, meeting 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 business 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. On average, research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its stake in shares of Kite Realty Group Trust by 69.8% during the second quarter. Geneos Wealth Management Inc. now owns 15,268 shares of the real estate investment trust's stock worth $346,000 after buying an additional 6,276 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Kite Realty Group Trust by 5.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 494,672 shares of the real estate investment trust's stock valued at $11,213,000 after buying an additional 23,791 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Kite Realty Group Trust by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 31,520 shares of the real estate investment trust's stock valued at $714,000 after buying an additional 21,724 shares during the period. Corient Private Wealth LLC acquired a new position in shares of Kite Realty Group Trust in the second quarter valued at approximately $265,000. Finally, Lazard Asset Management LLC grew its position in Kite Realty Group Trust by 4.1% in the second quarter. Lazard Asset Management LLC now owns 49,448 shares of the real estate investment trust's stock valued at $1,119,000 after purchasing an additional 1,955 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

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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