Kite Realty Group Trust (KRG) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a buy rating to a hold rating in a research report report published on Sunday.

KRG has been the topic of a number of other research reports. Zacks Investment Research raised shares of Kite Realty Group Trust from a sell rating to a hold rating in a report on Wednesday, November 15th. Raymond James Financial reissued an outperform rating and set a $23.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Wednesday, December 20th. Finally, Capital One Financial reissued an equal weight rating on shares of Kite Realty Group Trust in a 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 assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $23.80.

Shares of Kite Realty Group Trust (KRG) opened at $19.60 on Friday. The firm has a market cap of $1,638.44, a P/E ratio of 130.67, a P/E/G ratio of 2.13 and a beta of 0.63. Kite Realty Group Trust has a 1-year low of $17.60 and a 1-year high of $24.52. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The firm had revenue of $87.10 million for 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 firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. equities analysts forecast that Kite Realty Group Trust will post 2.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.27 dividend on an annualized basis and a yield of 6.48%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.30. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 806.67%.

In other Kite Realty Group Trust news, COO Thomas K. Mcgowan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $19.22, for a total transaction of $96,100.00. Following the sale, the chief operating officer now owns 86,751 shares of the company’s stock, valued at $1,667,354.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John A. Kite sold 17,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $20.09, for a total transaction of $341,530.00. Following the sale, the chief executive officer now directly 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 three months, insiders have sold 25,157 shares of company stock worth $497,645. 1.87% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of 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 acquiring an additional 557 shares during the last quarter. Zions Bancorporation purchased a new position in shares of Kite Realty Group Trust during the third quarter worth approximately $111,000. Riverhead Capital Management LLC grew its position in shares of 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 acquiring an additional 2,627 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of 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 acquiring an additional 2,500 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Kite Realty Group Trust by 374.1% during the third quarter. Meeder Asset Management Inc. now owns 7,126 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 5,623 shares during the last quarter. Institutional investors and hedge funds 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.

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

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