Robert W. Baird Forecasts Strong Price Appreciation for Kite Realty Group Trust (NYSE:KRG) Stock

Kite Realty Group Trust (NYSE:KRG) had its price objective boosted by research analysts at Robert W. Baird from $26.00 to $29.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price would indicate a potential upside of 8.05% from the company’s previous close.

Several other analysts also recently weighed in on KRG. Piper Sandler upped their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point upped their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Friday, August 16th. Finally, KeyCorp upped their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.86.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $26.84 on Friday. The company has a market capitalization of $5.90 billion, a PE ratio of -671.00, a PEG ratio of 4.16 and a beta of 1.29. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.94. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock’s fifty day simple moving average is $26.27 and its 200 day simple moving average is $24.10.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after purchasing an additional 881,502 shares in the last quarter. Boston Partners purchased a new stake in Kite Realty Group Trust during the 1st quarter worth about $752,000. Systematic Financial Management LP increased its position in shares of Kite Realty Group Trust by 34.0% in the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock valued at $15,410,000 after purchasing an additional 174,797 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Kite Realty Group Trust by 118.8% in the second quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust’s stock valued at $2,784,000 after purchasing an additional 67,542 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Kite Realty Group Trust by 12.8% during the second quarter. Mutual of America Capital Management LLC now owns 315,327 shares of the real estate investment trust’s stock worth $7,057,000 after purchasing an additional 35,721 shares in the last quarter. 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.