Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. “

Other equities analysts have also issued reports about the company. Robert W. Baird reaffirmed a “buy” rating and issued a $23.00 target price on shares of Kite Realty Group Trust in a report on Thursday, August 24th. BidaskClub raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. ValuEngine raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Capital One Financial Corporation reissued an “equal weight” rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Finally, KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $25.33.

Kite Realty Group Trust (NYSE:KRG) traded up $0.30 during mid-day trading on Wednesday, hitting $19.40. The stock had a trading volume of 568,900 shares, compared to its average volume of 738,291. The company has a market capitalization of $1,596.65, a price-to-earnings ratio of 9.36, a PEG ratio of 2.00 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $25.01.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $87.10 million during the quarter, compared to analyst estimates of $88.16 million. Kite Realty Group Trust had a return on equity of 0.80% and a net margin of 3.60%. Kite Realty Group Trust’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. equities research analysts anticipate that Kite Realty Group Trust will post 2.04 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in Kite Realty Group Trust by 13.6% during the second quarter. American Century Companies Inc. now owns 1,682,154 shares of the real estate investment trust’s stock valued at $31,843,000 after purchasing an additional 202,026 shares during the period. IndexIQ Advisors LLC lifted its position in shares of Kite Realty Group Trust by 11.7% during the second quarter. IndexIQ Advisors LLC now owns 100,825 shares of the real estate investment trust’s stock worth $1,909,000 after acquiring an additional 10,589 shares in the last quarter. AXA lifted its position in shares of Kite Realty Group Trust by 205.3% during the second quarter. AXA now owns 224,410 shares of the real estate investment trust’s stock worth $4,249,000 after acquiring an additional 150,900 shares in the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Kite Realty Group Trust by 105.6% during the second quarter. Virginia Retirement Systems ET AL now owns 81,000 shares of the real estate investment trust’s stock worth $1,533,000 after acquiring an additional 41,600 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Kite Realty Group Trust by 20.9% during the second quarter. Victory Capital Management Inc. now owns 1,539,805 shares of the real estate investment trust’s stock worth $29,149,000 after acquiring an additional 266,113 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.

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

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