Robert W. Baird Forecasts Strong Price Appreciation for Kite Realty Group Trust (NYSE:KRG) Stock

Kite Realty Group Trust (NYSE:KRG) had its price target upped by investment analysts at Robert W. Baird from $26.00 to $29.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price suggests a potential upside of 8.65% from the stock’s current price.

Several other research firms have also issued reports on KRG. Piper Sandler raised their price target 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. KeyCorp raised their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Compass Point upped their price target on 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 raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Friday, August 16th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a research note 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 stock. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average target price of $28.86.

Kite Realty Group Trust Stock Down 0.6 %

KRG opened at $26.69 on Friday. The firm has a 50 day simple moving average of $26.31 and a 200 day simple moving average of $24.15. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by insiders.

Institutional Trading of Kite Realty Group Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC grew its holdings in shares of Kite Realty Group Trust by 4.7% during the first quarter. ProShare Advisors LLC now owns 49,851 shares of the real estate investment trust’s stock worth $1,081,000 after buying an additional 2,242 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Kite Realty Group Trust by 13.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 70,299 shares of the real estate investment trust’s stock worth $1,471,000 after acquiring an additional 8,120 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Kite Realty Group Trust by 2.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 133,434 shares of the real estate investment trust’s stock valued at $2,893,000 after purchasing an additional 3,671 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Kite Realty Group Trust in the first quarter worth $52,000. Finally, Vanguard Group Inc. boosted its holdings in Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after purchasing an additional 881,502 shares during 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.