Zacks Investment Research Upgrades Kite Realty Group Trust (KRG) to “Hold”

Zacks Investment Research Upgrades Kite Realty Group Trust (KRG) to “Hold”

Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “

A number of other research analysts also recently issued reports on the stock. Robert W. Baird raised shares of Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $27.00 to $24.00 in a research report on Monday, March 13th. Stifel Nicolaus cut their price objective on shares of Kite Realty Group Trust from $27.00 to $26.00 and set a “hold” rating on the stock in a research report on Monday, February 6th. Barclays PLC cut their price objective on shares of Kite Realty Group Trust from $31.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, January 23rd. Raymond James Financial, Inc. raised shares of Kite Realty Group Trust from an “outperform” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research report on Monday, January 9th. Finally, Citigroup Inc downgraded shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research report on Tuesday, December 13th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $29.00.

Shares of Kite Realty Group Trust (NYSE:KRG) traded up 1.94% during mid-day trading on Thursday, hitting $21.03. 678,949 shares of the stock were exchanged. Kite Realty Group Trust has a 52-week low of $19.91 and a 52-week high of $30.45. The company has a market cap of $1.76 billion, a P/E ratio of 2103.00 and a beta of 0.67. The stock’s 50-day moving average price is $22.37 and its 200-day moving average price is $24.46.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.00. Kite Realty Group Trust had a net margin of 0.45% and a return on equity of 0.10%. During the same period in the prior year, the company posted $0.50 EPS. Equities research analysts anticipate that Kite Realty Group Trust will post ($0.05) earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Thursday, April 6th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date is Tuesday, April 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 6,053.03%.

Hedge funds have recently added to or reduced their stakes in the company. Elkfork Partners LLC bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $112,000. MSI Financial Services Inc boosted its stake in Kite Realty Group Trust by 0.6% in the third quarter. MSI Financial Services Inc now owns 5,750 shares of the company’s stock worth $159,000 after buying an additional 36 shares during the period. Sei Investments Co. boosted its stake in Kite Realty Group Trust by 24.6% in the third quarter. Sei Investments Co. now owns 7,261 shares of the company’s stock worth $201,000 after buying an additional 1,433 shares during the period. Sii Investments Inc. WI bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $214,000. Finally, Numeric Investors LLC bought a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $258,000. Institutional investors own 93.36% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States.

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