Retirement Guys Formula LLC Takes Position in Kite Realty Group Trust (NYSE:KRG)

Retirement Guys Formula LLC acquired a new stake in Kite Realty Group Trust (NYSE:KRG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,903 shares of the real estate investment trust’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 950 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at about $39,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at about $45,000. Versant Capital Management Inc raised its holdings in shares of 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 valued at $62,000 after buying an additional 2,080 shares during the period. Finally, GAMMA Investing LLC raised 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 buying an additional 652 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on KRG shares. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Robert W. Baird raised their target price 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. Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. KeyCorp raised their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

Kite Realty Group Trust Price Performance

KRG stock opened at $23.66 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The stock’s 50 day moving average is $24.51 and its two-hundred day moving average is $25.49.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. On average, analysts predict that Kite Realty Group Trust will post 2.06 EPS for the current fiscal year.

Kite Realty Group Trust Company Profile

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.