Citigroup Cuts Kite Realty Group Trust (KRG) Price Target to $16.00

Kite Realty Group Trust (NYSE:KRG) had its price target decreased by Citigroup from $20.50 to $16.00 in a research note issued to investors on Tuesday morning. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on KRG. Zacks Investment Research cut shares of Kite Realty Group Trust from a hold rating to a sell rating in a research note on Tuesday, October 24th. Capital One Financial restated an equal weight rating on shares of Kite Realty Group Trust in a research note on Tuesday, October 24th. Raymond James Financial restated an outperform rating and issued a $23.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Wednesday, December 20th. ValuEngine downgraded shares of Kite Realty Group Trust from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, Barclays cut their price target on shares of Kite Realty Group Trust from $25.00 to $22.00 and set an overweight rating for the company in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $20.33.

Shares of Kite Realty Group Trust (KRG) opened at $14.48 on Tuesday. Kite Realty Group Trust has a 52 week low of $13.90 and a 52 week high of $24.38. The company has a market cap of $1,257.44, a price-to-earnings ratio of 103.43, a PEG ratio of 1.75 and a beta of 0.42. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 1.09.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Kite Realty Group Trust had a net margin of 3.31% and a return on equity of 0.74%. The company had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $89.14 million. During the same quarter last year, the business earned $0.50 EPS. The business’s revenue was up .0% on a year-over-year basis. equities research analysts expect that Kite Realty Group Trust will post 2.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, January 5th were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date was Thursday, January 4th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.30. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 907.14%.

In other news, CAO Thomas R. Olinger sold 3,157 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.01, for a total value of $60,014.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Bindley purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $15.06 per share, with a total value of $1,506,000.00. Following the acquisition, the director now directly owns 85,014 shares in the company, valued at $1,280,310.84. The disclosure for this purchase can be found here. Insiders sold a total of 25,157 shares of company stock valued at $497,645 in the last quarter. Insiders own 1.87% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zions Bancorporation purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at about $111,000. Perigon Wealth Management LLC increased its holdings in Kite Realty Group Trust by 58.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 2,500 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Kite Realty Group Trust by 374.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 5,623 shares in the last quarter. Amalgamated Bank increased its holdings in Kite Realty Group Trust by 1.0% during the 2nd quarter. Amalgamated Bank now owns 11,312 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 109 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at about $223,000. Institutional investors and hedge funds own 94.65% of the company’s stock.

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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., 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.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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