Kite Realty Group Trust (NYSE:KRG) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Piper Sandler restated a “neutral” rating and issued a $27.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Monday, October 12th. UBS Group reiterated a “neutral” rating and set a $26.00 price objective (down from $30.00) on shares of Kite Realty Group Trust in a report on Friday, October 9th. Citigroup reiterated a “neutral” rating and issued a $31.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research report on Monday, August 3rd. Wells Fargo & Company set a $27.00 target price on Kite Realty Group Trust and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Finally, Weiss Ratings downgraded shares of Kite Realty Group Trust from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus target price of $27.78.

Kite Realty Group Trust Stock Up 2.5%

Shares of NYSE:KRG opened at $25.70 on Friday. Kite Realty Group Trust has a 12 month low of $21.64 and a 12 month high of $29.92. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $25.08 and its two-hundred day moving average price is $26.08. The firm has a market cap of $5.15 billion, a P/E ratio of 15.87, a P/E/G ratio of 4.41 and a beta of 0.88.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Friday, October 30th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.15). The firm had revenue of $190.28 million for the quarter, compared to analyst estimates of $195.62 million. Kite Realty Group Trust had a return on equity of 11.26% and a net margin of 41.80%. As a group, research analysts forecast that Kite Realty Group Trust will post 2.09 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Saturday, January 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, January 8th. Kite Realty Group Trust’s payout ratio is presently 71.60%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC raised its position in Kite Realty Group Trust by 8.9% during the third quarter. Kestra Advisory Services LLC now owns 33,264 shares of the real estate investment trust’s stock worth $811,000 after acquiring an additional 2,708 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth approximately $240,000. State of Wyoming bought a new position in Kite Realty Group Trust during the third quarter worth about $979,000. Signaturefd LLC increased its holdings in shares of Kite Realty Group Trust by 31.0% during the third quarter. Signaturefd LLC now owns 18,264 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 4,323 shares during the period. Finally, James Investment Research Inc. lifted its position in shares of Kite Realty Group Trust by 11.4% during the 3rd quarter. James Investment Research Inc. now owns 23,943 shares of the real estate investment trust’s stock valued at $584,000 after acquiring an additional 2,450 shares during the period. 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 that owns, operates, acquires, develops and redevelops open-air shopping centers in the United States. Its properties are primarily grocery-anchored and neighborhood shopping centers designed to serve daily consumer needs.

The company’s tenant base includes grocery stores, restaurants, service providers, fitness operators, retailers and other businesses. Kite Realty focuses on well-located properties in established and growing communities, with an emphasis on maintaining diversified centers that attract recurring customer traffic.

Headquartered in Indianapolis, Indiana, Kite Realty expanded its portfolio through the 2021 merger with Retail Properties of America, Inc The company’s operations extend across multiple U.S.