Kite Realty Group Trust (NYSE:KRG) Lowered to “Neutral” at BTIG Research

BTIG Research lowered shares of Kite Realty Group Trust (NYSE:KRG) from a buy rating to a neutral rating in a report issued on Monday, January 6th, The Fly reports.

Several other equities analysts have also recently commented on KRG. Zacks Investment Research raised Kite Realty Group Trust from a sell rating to a hold rating in a report on Tuesday, November 12th. Compass Point raised Kite Realty Group Trust from a sell rating to a neutral rating and set a $19.50 price target for the company in a report on Friday, December 27th. Bank of America raised Kite Realty Group Trust from an underperform rating to a neutral rating in a report on Monday, January 6th. Citigroup increased their target price on Kite Realty Group Trust from $16.00 to $19.50 and gave the stock a neutral rating in a report on Monday, December 9th. Finally, Sandler O’Neill raised Kite Realty Group Trust from a hold rating to a buy rating in a report on Wednesday, November 27th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $19.00.

Shares of Kite Realty Group Trust stock traded down $0.03 on Monday, reaching $18.38. 2,658 shares of the company were exchanged, compared to its average volume of 724,897. The stock has a fifty day moving average price of $18.87 and a 200-day moving average price of $16.82. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 9.24 and a beta of 0.87. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.92. Kite Realty Group Trust has a fifty-two week low of $14.03 and a fifty-two week high of $19.77.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $74.94 million for the quarter, compared to analyst estimates of $76.16 million. Kite Realty Group Trust had a negative net margin of 14.39% and a negative return on equity of 3.45%. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities analysts anticipate that Kite Realty Group Trust will post 1.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 20th were paid a $0.317 dividend. This represents a $1.27 annualized dividend and a dividend yield of 6.90%. The ex-dividend date of this dividend was Thursday, December 19th. Kite Realty Group Trust’s dividend payout ratio is 63.50%.

In other Kite Realty Group Trust news, CEO John A. Kite sold 12,500 shares of Kite Realty Group Trust stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $18.78, for a total value of $234,750.00. Following the sale, the chief executive officer now owns 26,110 shares of the company’s stock, valued at approximately $490,345.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.07% of the company’s stock.

Several large investors have recently added to or reduced their stakes in KRG. HM Payson & Co. acquired a new position in Kite Realty Group Trust during the second quarter valued at approximately $50,000. Tower Research Capital LLC TRC raised its holdings in shares of Kite Realty Group Trust by 227.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,132 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 4,257 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth about $106,000. Quantamental Technologies LLC raised its holdings in shares of Kite Realty Group Trust by 5,386.4% in the 2nd quarter. Quantamental Technologies LLC now owns 9,272 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 9,103 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth about $207,000. 91.25% 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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