Kite Realty Group Trust (NYSE:KRG) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a report issued on Tuesday, ValuEngine reports.

Several other analysts have also recently issued reports on KRG. Compass Point cut shares of Kite Realty Group Trust from a neutral rating to a sell rating and set a $18.00 price objective for the company. in a research note on Monday, November 25th. Sandler O’Neill raised shares of Kite Realty Group Trust from a hold rating to a buy rating in a research note on Wednesday, November 27th. Zacks Investment Research upgraded Kite Realty Group Trust from a sell rating to a hold rating in a report on Tuesday, November 12th. Finally, Barclays set a $16.00 price target on Kite Realty Group Trust and gave the company a hold rating in a research report on Friday, October 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $17.00.

Shares of KRG stock opened at $19.16 on Tuesday. The stock’s fifty day moving average is $18.16 and its two-hundred day moving average is $16.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $1.62 billion, a P/E ratio of 9.58 and a beta of 0.85. Kite Realty Group Trust has a fifty-two week low of $13.66 and a fifty-two week high of $19.77.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The business had revenue of $74.94 million for the quarter, compared to analysts’ expectations of $76.16 million. Kite Realty Group Trust had a negative return on equity of 3.45% and a negative net margin of 14.39%. Kite Realty Group Trust’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. On average, equities analysts forecast that Kite Realty Group Trust will post 1.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be given a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Thursday, December 19th. Kite Realty Group Trust’s payout ratio is currently 63.50%.

In related news, CEO John A. Kite sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $15.85, for a total value of $269,450.00. Following the transaction, the chief executive officer now directly owns 30,610 shares in the company, valued at $485,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John A. Kite sold 12,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $18.78, for a total value of $234,750.00. Following the completion of the transaction, the chief executive officer now owns 26,110 shares of the company’s stock, valued at $490,345.80. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Kite Realty Group Trust by 30.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,475,200 shares of the real estate investment trust’s stock worth $37,450,000 after purchasing an additional 580,700 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in Kite Realty Group Trust by 485.9% during the second quarter. Balyasny Asset Management LLC now owns 473,235 shares of the real estate investment trust’s stock worth $7,160,000 after buying an additional 392,458 shares during the period. Nuveen Asset Management LLC increased its position in shares of Kite Realty Group Trust by 22.5% during the second quarter. Nuveen Asset Management LLC now owns 1,620,277 shares of the real estate investment trust’s stock valued at $24,514,000 after acquiring an additional 297,063 shares during the last quarter. Morgan Stanley increased its position in shares of Kite Realty Group Trust by 167.1% during the second quarter. Morgan Stanley now owns 433,760 shares of the real estate investment trust’s stock valued at $6,563,000 after acquiring an additional 271,352 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Kite Realty Group Trust during the third quarter valued at about $3,231,000. 91.26% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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

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