Zacks Investment Research downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a buy rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “

Several other analysts also recently issued reports on the company. BidaskClub upgraded Kite Realty Group Trust from a sell rating to a hold rating in a research note on Tuesday, June 27th. ValuEngine downgraded Kite Realty Group Trust from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Barclays PLC reduced their price target on Kite Realty Group Trust from $27.00 to $25.00 and set an overweight rating for the company in a research note on Wednesday, April 19th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $26.86.

Kite Realty Group Trust (KRG) opened at 20.53 on Friday. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $30.45. The company has a 50 day moving average price of $19.10 and a 200-day moving average price of $20.83. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 146.64 and a beta of 0.55.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. The company had revenue of $92.65 million during the quarter, compared to the consensus estimate of $88.42 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict that Kite Realty Group Trust will post ($0.05) earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Thursday, July 6th were paid a $0.3025 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $1.21 annualized dividend and a yield of 5.89%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 864.29%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in Kite Realty Group Trust by 12.2% in the second quarter. Sei Investments Co. now owns 99,512 shares of the real estate investment trust’s stock valued at $1,884,000 after buying an additional 10,855 shares during the period. Texas Permanent School Fund increased its stake in Kite Realty Group Trust by 0.9% in the second quarter. Texas Permanent School Fund now owns 61,017 shares of the real estate investment trust’s stock valued at $1,155,000 after buying an additional 529 shares during the period. Daiwa Securities Group Inc. increased its stake in Kite Realty Group Trust by 17.1% in the second quarter. Daiwa Securities Group Inc. now owns 7,525 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 1,100 shares during the period. Investment Counselors of Maryland LLC increased its stake in Kite Realty Group Trust by 49.4% in the second quarter. Investment Counselors of Maryland LLC now owns 949,160 shares of the real estate investment trust’s stock valued at $17,968,000 after buying an additional 313,900 shares during the period. Finally, Cambiar Investors LLC bought a new position in shares of Kite Realty Group Trust during the second quarter valued at $13,282,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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

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