Kite Realty Group Trust (NYSE:KRG) Upgraded to “Buy” by Jefferies Financial Group

Kite Realty Group Trust (NYSE:KRG) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Thursday, MarketBeat reports. The brokerage currently has a $23.00 target price on the real estate investment trust’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 14.48% from the stock’s previous close.

Several other analysts also recently issued reports on KRG. Piper Sandler boosted their price objective on Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. StockNews.com upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.50.

Kite Realty Group Trust Stock Performance

KRG opened at $20.09 on Thursday. The business has a fifty day simple moving average of $21.05 and a 200-day simple moving average of $21.36. The firm has a market cap of $4.41 billion, a PE ratio of 91.32, a P/E/G ratio of 2.86 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a fifty-two week low of $19.16 and a fifty-two week high of $24.26.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently modified their holdings of KRG. Creative Planning raised its holdings in Kite Realty Group Trust by 4.8% during the third quarter. Creative Planning now owns 11,783 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 535 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Kite Realty Group Trust by 2.3% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 24,241 shares of the real estate investment trust’s stock worth $507,000 after purchasing an additional 555 shares during the period. Verdence Capital Advisors LLC boosted its position in Kite Realty Group Trust by 4.1% during the third quarter. Verdence Capital Advisors LLC now owns 14,619 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 576 shares during the period. Lazard Asset Management LLC grew its holdings in Kite Realty Group Trust by 14.6% during the third quarter. Lazard Asset Management LLC now owns 4,977 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 634 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Kite Realty Group Trust by 0.8% in the third quarter. Stifel Financial Corp now owns 78,300 shares of the real estate investment trust’s stock worth $1,677,000 after buying an additional 639 shares during the last quarter. 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.