Kite Realty Group Trust (NYSE:KRG) Given New $24.00 Price Target at Wells Fargo & Company

Kite Realty Group Trust (NYSE:KRG) had its target price reduced by equities researchers at Wells Fargo & Company from $26.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.67% from the company’s previous close.

Several other research firms also recently commented on KRG. Raymond James decreased their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on shares of 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. Piper Sandler restated a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.88.

Kite Realty Group Trust Trading Down 1.0 %

NYSE KRG opened at $22.50 on Wednesday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $22.76 and a 200-day moving average of $24.91. The company has a market cap of $4.94 billion, a PE ratio of 1,125.00, a PEG ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. On average, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Kite Realty Group Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock valued at $96,993,000 after acquiring an additional 173,290 shares in the last quarter. Citigroup Inc. raised its stake in Kite Realty Group Trust by 58.6% in the third quarter. Citigroup Inc. now owns 227,242 shares of the real estate investment trust’s stock valued at $6,036,000 after purchasing an additional 83,963 shares in the last quarter. Cerity Partners LLC lifted its position in Kite Realty Group Trust by 105.1% during the third quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock worth $1,279,000 after purchasing an additional 24,679 shares during the period. Daiwa Securities Group Inc. grew its stake in Kite Realty Group Trust by 6.7% during the third quarter. Daiwa Securities Group Inc. now owns 73,264 shares of the real estate investment trust’s stock worth $1,946,000 after buying an additional 4,631 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Kite Realty Group Trust in the 3rd quarter valued at about $728,000. 90.81% of the stock is currently owned by institutional investors.

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.