Kite Realty Group Trust (NYSE:KRG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, December 8th.
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. “
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and set a $23.00 target price on shares of Kite Realty Group Trust in a report on Thursday, August 24th. Finally, Capital One Financial restated an “equal weight” rating on shares of Kite Realty Group Trust in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.80.
Shares of Kite Realty Group Trust (NYSE KRG) traded up $0.36 on Friday, reaching $19.96. 584,391 shares of the company’s stock traded hands, compared to its average volume of 556,050. The firm has a market capitalization of $1,670.00, a P/E ratio of 133.07, a price-to-earnings-growth ratio of 2.13 and a beta of 0.61. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $24.52. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06.
Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting 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 net margin of 3.60% and a return on equity of 0.80%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. research analysts anticipate that Kite Realty Group Trust will post 2.04 earnings per share for the current fiscal year.
In other news, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO John A. Kite sold 17,000 shares of Kite Realty Group Trust stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $20.09, for a total transaction of $341,530.00. Following the completion of the sale, the chief executive officer now owns 52,712 shares in the company, valued at approximately $1,058,984.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,157 shares of company stock worth $497,645. Company insiders own 1.87% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Kite Realty Group Trust by 11.5% during the second quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 557 shares during the period. Zions Bancorporation purchased a new position in Kite Realty Group Trust during the third quarter worth about $111,000. Riverhead Capital Management LLC raised its stake in Kite Realty Group Trust by 64.1% during the second quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,627 shares during the period. First Mercantile Trust Co. raised its stake in Kite Realty Group Trust by 14.4% during the second quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 850 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in Kite Realty Group Trust by 58.1% during the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 94.32% of the company’s stock.
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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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