Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $22.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.02% from the stock’s previous close.

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 research analysts have also weighed in on KRG. BidaskClub raised 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 lowered their price objective on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Kite Realty Group Trust currently has an average rating of “Buy” and a consensus price target of $26.86.

Shares of Kite Realty Group Trust (KRG) traded up 0.05% during midday trading on Friday, hitting $19.64. The stock had a trading volume of 841,676 shares. The stock has a 50-day moving average of $18.78 and a 200 day moving average of $20.96. The stock’s market cap is $1.64 billion. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $30.45.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $90.10 million for the quarter, compared to analyst estimates of $88.31 million. During the same period last year, the firm earned $0.52 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts anticipate that Kite Realty Group Trust will post ($0.05) EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Kite Realty Group Trust by 13.6% in the first quarter. Prudential Financial Inc. now owns 283,371 shares of the real estate investment trust’s stock valued at $6,092,000 after buying an additional 33,870 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Kite Realty Group Trust by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 137,455 shares of the real estate investment trust’s stock valued at $3,227,000 after buying an additional 4,343 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 in the last quarter. ProShare Advisors LLC raised its stake in shares of Kite Realty Group Trust by 144.7% in the first quarter. ProShare Advisors LLC now owns 91,032 shares of the real estate investment trust’s stock valued at $736,000 after buying an additional 53,834 shares in the last quarter. Finally, Pensionfund DSM Netherlands raised its stake in shares of Kite Realty Group Trust by 44.3% in the first quarter. Pensionfund DSM Netherlands now owns 114,000 shares of the real estate investment trust’s stock valued at $2,451,000 after buying an additional 35,000 shares in the last quarter. 93.35% of the stock is currently 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.

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

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