Kite Realty Group Trust (NYSE:KRG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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 research firms also recently commented on KRG. BidaskClub raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. KeyCorp reaffirmed a “hold” rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. ValuEngine downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price objective on shares of Kite Realty Group Trust in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $25.33.

Kite Realty Group Trust (NYSE:KRG) traded down 2.13% during mid-day trading on Tuesday, hitting $19.33. 533,809 shares of the stock were exchanged. The company has a market capitalization of $1.62 billion, a PE ratio of 138.07 and a beta of 0.57. The stock’s 50-day moving average is $20.19 and its 200 day moving average is $19.83. Kite Realty Group Trust has a 52 week low of $17.60 and a 52 week high of $26.11.

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

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of 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 buying an additional 202,026 shares during the period. Prudential Financial Inc. increased its position in shares of Kite Realty Group Trust by 13.6% during 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 during the period. Swiss National Bank increased its position in shares of Kite Realty Group Trust by 0.9% during the fourth quarter. Swiss National Bank now owns 110,000 shares of the real estate investment trust’s stock valued at $2,852,000 after buying an additional 1,000 shares during the period. Teachers Advisors LLC increased its position in shares of Kite Realty Group Trust by 3.3% during 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 during the period. Finally, Principal Financial Group Inc. increased its position in shares of Kite Realty Group Trust by 415.9% during 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. 95.75% 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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