Wells Fargo & Company Raises Kite Realty Group Trust (NYSE:KRG) Price Target to $28.00

Kite Realty Group Trust (NYSE:KRG) had its price target lifted by equities researchers at Wells Fargo & Company from $25.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.89% from the company’s previous close.

Several other equities research analysts have also recently commented on KRG. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Robert W. Baird lifted their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Citigroup reissued a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.38.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $24.59 on Thursday. The firm’s 50 day moving average is $24.75 and its 200-day moving average is $23.44. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $5.08 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 4.59 and a beta of 0.86. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $26.38.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new position in Kite Realty Group Trust during the fourth quarter worth $25,000. Arax Advisory Partners raised its position in shares of Kite Realty Group Trust by 182.0% in the fourth quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 726 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth about $30,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 740 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.