Kite Realty Group Trust (NYSE:KRG) Downgraded by ValuEngine to “Strong Sell”

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ValuEngine downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a sell rating to a strong sell rating in a report released on Wednesday morning, ValuEngine reports.

KRG has been the topic of several other reports. Citigroup set a $16.00 price objective on Kite Realty Group Trust and gave the company a hold rating in a research note on Monday, May 20th. DA Davidson reiterated a neutral rating on shares of Kite Realty Group Trust in a research note on Monday, July 29th. Compass Point assumed coverage on Kite Realty Group Trust in a research note on Thursday, August 15th. They issued a sell rating and a $13.50 price objective on the stock. Finally, Zacks Investment Research upgraded Kite Realty Group Trust from a sell rating to a hold rating in a research note on Friday, June 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Kite Realty Group Trust has an average rating of Hold and an average price target of $15.63.

KRG stock opened at $14.38 on Wednesday. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $17.75. The firm has a market cap of $1.24 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.78 and a beta of 0.81. The business’s 50 day moving average is $15.30 and its 200-day moving average is $15.73. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.02.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. Kite Realty Group Trust had a negative return on equity of 1.66% and a negative net margin of 6.92%. The company had revenue of $81.48 million for the quarter, compared to analyst estimates of $79.95 million. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue was down 11.2% compared to the same quarter last year. Sell-side analysts forecast that Kite Realty Group Trust will post 1.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be issued a $0.317 dividend. This represents a $1.27 annualized dividend and a dividend yield of 8.82%. The ex-dividend date is Thursday, September 19th. Kite Realty Group Trust’s payout ratio is currently 63.50%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in shares of Kite Realty Group Trust by 30.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,475,200 shares of the real estate investment trust’s stock worth $37,450,000 after acquiring an additional 580,700 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Kite Realty Group Trust by 9.9% in the 2nd quarter. Invesco Ltd. now owns 2,030,496 shares of the real estate investment trust’s stock worth $30,721,000 after acquiring an additional 182,824 shares in the last quarter. Investment Counselors of Maryland LLC boosted its holdings in shares of Kite Realty Group Trust by 1.1% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,762,360 shares of the real estate investment trust’s stock worth $26,665,000 after acquiring an additional 18,442 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Kite Realty Group Trust by 22.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,620,277 shares of the real estate investment trust’s stock worth $24,514,000 after acquiring an additional 297,063 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Kite Realty Group Trust by 1.8% in the 2nd quarter. Northern Trust Corp now owns 1,557,046 shares of the real estate investment trust’s stock worth $23,558,000 after acquiring an additional 27,276 shares in the last quarter. 90.75% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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

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