JPMorgan Chase & Co. Has Lowered Expectations for Kite Realty Group Trust (NYSE:KRG) Stock Price

Kite Realty Group Trust (NYSE:KRG) had its price target cut by equities researchers at JPMorgan Chase & Co. from $30.00 to $27.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 16.25% from the company’s previous close.

Several other brokerages also recently weighed in on KRG. Robert W. Baird boosted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. KeyCorp upped their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price target for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $23.23 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The firm has a market cap of $5.10 billion, a PE ratio of -580.63, a P/E/G ratio of 3.17 and a beta of 1.29. The firm has a 50 day simple moving average of $25.85 and a 200-day simple moving average of $25.41. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24.

Hedge Funds Weigh In On Kite Realty Group Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. raised its holdings in Kite Realty Group Trust by 53.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 46,793 shares of the real estate investment trust’s stock valued at $1,181,000 after buying an additional 16,330 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of Kite Realty Group Trust by 3.7% in the fourth quarter. Oliver Luxxe Assets LLC now owns 91,368 shares of the real estate investment trust’s stock worth $2,306,000 after acquiring an additional 3,268 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Kite Realty Group Trust by 19.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 1,210 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Kite Realty Group Trust by 15.8% during the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 652 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 2,080 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.