Jefferies Financial Group Downgrades Kite Realty Group Trust (NYSE:KRG) to Hold

Kite Realty Group Trust (NYSE:KRG) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat reports. They presently have a $27.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $31.00. Jefferies Financial Group’s price target points to a potential upside of 7.78% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Compass Point upped their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird upped their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, KeyCorp increased their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.43.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $25.05 on Thursday. The firm’s 50 day moving average price is $26.38 and its two-hundred day moving average price is $25.32. The stock has a market cap of $5.50 billion, a PE ratio of -626.25, a PEG ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KRG. UMB Bank n.a. lifted its position in Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Kite Realty Group Trust during the 3rd quarter worth about $39,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Kite Realty Group Trust in the 3rd quarter valued at about $45,000. Quarry LP lifted its holdings in shares of Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 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 (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.