Kite Realty Group Trust (NYSE:KRG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

A number of other equities analysts have also weighed in on the stock. BidaskClub upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. ValuEngine lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Barclays PLC dropped their target price on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Five equities research analysts have rated the stock with a hold rating, four have issued 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 an average price target of $26.86.

Kite Realty Group Trust (NYSE:KRG) traded up 1.14% during mid-day trading on Wednesday, hitting $18.59. 447,355 shares of the stock traded hands. The company’s 50 day moving average is $18.66 and its 200 day moving average is $21.42. The company’s market cap is $1.55 billion. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $30.45.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. Kite Realty Group Trust had a net margin of 0.05% and a return on equity of 0.01%. The firm had revenue of $90.10 million during the quarter, compared to analyst estimates of $88.31 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. Kite Realty Group Trust’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Kite Realty Group Trust will post ($0.05) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Thursday, July 6th will be given a dividend of $0.3025 per share. The ex-dividend date is Monday, July 3rd. This represents a $1.21 annualized dividend and a yield of 6.51%.

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A number of institutional investors have recently added to or reduced their stakes in KRG. BlackRock Inc. raised its position in Kite Realty Group Trust by 9,657.3% in the first quarter. BlackRock Inc. now owns 12,336,774 shares of the real estate investment trust’s stock valued at $265,241,000 after buying an additional 12,210,338 shares during the period. Principal Financial Group Inc. raised its position in Kite Realty Group Trust by 415.9% in the first quarter. Principal Financial Group Inc. now owns 3,411,740 shares of the real estate investment trust’s stock valued at $73,352,000 after buying an additional 2,750,414 shares during the period. Norges Bank acquired a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $19,496,000. Forward Management LLC raised its position in Kite Realty Group Trust by 127.7% in the first quarter. Forward Management LLC now owns 1,172,348 shares of the real estate investment trust’s stock valued at $25,205,000 after buying an additional 657,400 shares during the period. Finally, Macquarie Group Ltd. raised its position in Kite Realty Group Trust by 39.4% in the first quarter. Macquarie Group Ltd. now owns 1,395,128 shares of the real estate investment trust’s stock valued at $29,995,000 after buying an additional 394,143 shares during the period. Institutional investors and hedge funds own 93.34% of the company’s stock.

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.

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