Kite Realty Group Trust (KRG) Downgraded by ValuEngine to “Hold”

Kite Realty Group Trust (NYSE:KRG) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other research analysts have also recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $23.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Wednesday, December 20th. Zacks Investment Research cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Finally, Capital One Financial restated an “equal weight” rating on shares of Kite Realty Group Trust in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Kite Realty Group Trust has an average rating of “Hold” and a consensus price target of $23.80.

Kite Realty Group Trust (NYSE:KRG) opened at $19.60 on Friday. The stock has a market capitalization of $1,640.00, a price-to-earnings ratio of 130.67, a price-to-earnings-growth ratio of 2.13 and a beta of 0.61. Kite Realty Group Trust has a one year low of $17.60 and a one year high of $24.52. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. The business had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. equities research analysts forecast that Kite Realty Group Trust will post 2.04 EPS for the current fiscal year.

In related news, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas K. Mcgowan sold 5,000 shares of Kite Realty Group Trust stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $19.22, for a total value of $96,100.00. Following the completion of the sale, the chief operating officer now directly owns 86,751 shares of the company’s stock, valued at approximately $1,667,354.22. The disclosure for this sale can be found here. Insiders sold 25,157 shares of company stock valued at $497,645 in the last 90 days. Company insiders own 1.87% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in shares of Kite Realty Group Trust by 11.5% in the second quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 557 shares during the period. Zions Bancorporation bought a new stake in shares of Kite Realty Group Trust in the third quarter worth $111,000. Riverhead Capital Management LLC grew its holdings in shares of Kite Realty Group Trust by 64.1% in the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 2,627 shares during the period. Perigon Wealth Management LLC grew its holdings in shares of Kite Realty Group Trust by 58.1% in the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 2,500 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in shares of Kite Realty Group Trust by 374.1% in the third quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 5,623 shares during the period. 94.32% of the stock is owned by institutional investors.

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Kite Realty Group Trust Company Profile

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

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