Kite Realty Group Trust’s (KRG) Buy Rating Reaffirmed at Barclays

Kite Realty Group Trust (NYSE:KRG)‘s stock had its “buy” rating restated by research analysts at Barclays in a research note issued on Tuesday. They currently have a $19.00 price objective on the real estate investment trust’s stock. Barclays’ price target points to a potential upside of 26.50% from the stock’s current price.

KRG has been the topic of a number of other reports. Citigroup decreased their price objective on Kite Realty Group Trust from $20.50 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Raymond James Financial reiterated an “outperform” rating and issued a $23.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. Robert W. Baird reiterated a “buy” rating and issued a $19.00 price objective on shares of Kite Realty Group Trust in a report on Wednesday, March 21st. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Capital One Financial upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Kite Realty Group Trust has a consensus rating of “Hold” and a consensus price target of $18.71.

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KRG traded up $0.02 during trading hours on Tuesday, reaching $15.02. The company’s stock had a trading volume of 197,835 shares, compared to its average volume of 775,729. Kite Realty Group Trust has a fifty-two week low of $13.90 and a fifty-two week high of $22.34. The stock has a market capitalization of $1,243.13, a PE ratio of 7.37, a P/E/G ratio of 1.75 and a beta of 0.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.05 and a current ratio of 1.05.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The firm had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $89.14 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. equities research analysts forecast that Kite Realty Group Trust will post 2 earnings per share for the current fiscal year.

In other news, Director William E. Bindley purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $15.06 per share, for a total transaction of $1,506,000.00. Following the completion of the purchase, the director now directly owns 85,014 shares of the company’s stock, valued at $1,280,310.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Wurtzebach purchased 6,600 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $14.65 per share, for a total transaction of $96,690.00. The disclosure for this purchase can be found here. 1.93% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its stake in Kite Realty Group Trust by 3.1% during the third quarter. Public Employees Retirement System of Ohio now owns 96,169 shares of the real estate investment trust’s stock worth $1,947,000 after purchasing an additional 2,881 shares in the last quarter. Strs Ohio raised its stake in shares of Kite Realty Group Trust by 2.3% in the fourth quarter. Strs Ohio now owns 130,886 shares of the real estate investment trust’s stock valued at $2,565,000 after acquiring an additional 2,973 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in shares of Kite Realty Group Trust by 4.4% in the fourth quarter. Thrivent Financial For Lutherans now owns 85,126 shares of the real estate investment trust’s stock valued at $1,668,000 after acquiring an additional 3,625 shares in the last quarter. Swiss National Bank raised its stake in shares of Kite Realty Group Trust by 2.7% in the fourth quarter. Swiss National Bank now owns 140,900 shares of the real estate investment trust’s stock valued at $2,762,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Kite Realty Group Trust by 80.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,600 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 6,500 shares in the last quarter. Institutional investors own 95.18% of the company’s stock.

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About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.

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

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