Kite Realty Group Trust (NYSE:KRG) Price Target Lowered to $26.00 at Wells Fargo & Company

Kite Realty Group Trust (NYSE:KRG) had its price objective reduced by equities research analysts at Wells Fargo & Company from $28.00 to $26.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.09% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. KeyCorp raised their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.13.

Kite Realty Group Trust Stock Down 1.5 %

KRG traded down $0.36 during midday trading on Wednesday, reaching $23.41. The company’s stock had a trading volume of 166,753 shares, compared to its average volume of 1,886,821. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The stock’s 50-day moving average is $25.28 and its 200-day moving average is $25.52. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of -585.18, a PEG ratio of 3.57 and a beta of 1.29. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.43). Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. The company had revenue of $207.25 million for the quarter, compared to the consensus estimate of $210.39 million. During the same period last year, the business earned $0.51 EPS. As a group, research analysts expect that Kite Realty Group Trust will post 2.07 EPS for the current year.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. Wealthstar Advisors LLC acquired a new position in shares of Kite Realty Group Trust in the fourth quarter worth about $372,000. Entropy Technologies LP acquired a new stake in Kite Realty Group Trust during the 4th quarter worth $1,006,000. State of Alaska Department of Revenue grew its holdings in shares of Kite Realty Group Trust by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 129,014 shares of the real estate investment trust’s stock worth $3,255,000 after buying an additional 636 shares in the last quarter. Vanderbilt University lifted its stake in Kite Realty Group Trust by 115.2% in the 4th quarter. Vanderbilt University now owns 32,411 shares of the real estate investment trust’s stock worth $818,000 after purchasing an additional 17,348 shares in the last quarter. Finally, Choreo LLC purchased a new position in Kite Realty Group Trust during the fourth quarter worth approximately $228,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.