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

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

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

Kite Realty Group Trust Stock Down 1.5 %

Shares of NYSE:KRG traded down $0.36 during trading on Wednesday, hitting $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 fifty-two week low of $19.64 and a fifty-two week high of $28.24. The business has a 50 day moving average price of $25.28 and a two-hundred day moving average price of $25.52. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The company has a market capitalization of $5.14 billion, a PE ratio of -585.18, a P/E/G ratio of 3.57 and a beta of 1.29.

Kite Realty Group Trust (NYSE:KRG) last announced 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 firm had revenue of $207.25 million during the quarter, compared to analyst estimates of $210.39 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, research analysts expect that Kite Realty Group Trust will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after buying an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Kite Realty Group Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after purchasing an additional 173,290 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Kite Realty Group Trust by 51.5% in the third quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock valued at $50,684,000 after purchasing an additional 673,976 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Kite Realty Group Trust by 432.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after purchasing an additional 1,105,539 shares in the last quarter. Finally, Barclays PLC increased its stake in Kite Realty Group Trust by 29.0% during the 3rd quarter. Barclays PLC now owns 946,501 shares of the real estate investment trust’s stock worth $25,139,000 after buying an additional 212,983 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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.