KeyCorp Increases Kite Realty Group Trust (NYSE:KRG) Price Target to $31.00

Kite Realty Group Trust (NYSE:KRG) had its target price lifted by KeyCorp from $28.00 to $31.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price suggests a potential upside of 13.68% from the company’s current price.

Several other research analysts have also commented on KRG. Piper Sandler lifted their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Compass Point boosted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Robert W. Baird boosted their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus price target of $28.43.

Kite Realty Group Trust Price Performance

KRG stock opened at $27.27 on Tuesday. The company has a market capitalization of $5.99 billion, a PE ratio of -681.75, a P/E/G ratio of 4.16 and a beta of 1.29. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $26.27 and its two-hundred day moving average is $24.10. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.94.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Kite Realty Group Trust

Several large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its holdings in shares of Kite Realty Group Trust by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after acquiring an additional 484 shares in the last quarter. Marcum Wealth LLC grew its position in Kite Realty Group Trust by 1.4% during the 3rd quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock worth $1,085,000 after purchasing an additional 571 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in shares of Kite Realty Group Trust by 2.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after purchasing an additional 671 shares in the last quarter. FMR LLC raised its position in Kite Realty Group Trust by 2.6% during the third quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock valued at $760,000 after buying an additional 737 shares during the period. Finally, United Services Automobile Association lifted its stake in Kite Realty Group Trust by 4.6% in the 2nd quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 777 shares in the last quarter. 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.