Wells Fargo & Company Upgrades Kite Realty Group Trust (NYSE:KRG) to "Equal Weight"

Kite Realty Group Trust (NYSE:KRG - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a $26.00 price objective on the real estate investment trust's stock, up from their previous price objective of $23.00. Wells Fargo & Company's price objective would suggest a potential downside of 0.08% from the company's current price.

Several other equities analysts have also issued reports on KRG. KeyCorp raised their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Robert W. Baird raised their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Finally, Raymond James raised 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 report on Friday, August 16th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.83.

Kite Realty Group Trust Stock Performance

Shares of KRG stock traded up $0.06 during mid-day trading on Wednesday, hitting $26.02. 1,039,799 shares of the stock were exchanged, compared to its average volume of 1,643,681. The stock's fifty day simple moving average is $23.72 and its two-hundred day simple moving average is $22.11. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 100.08, a P/E/G ratio of 6.25 and a beta of 1.31. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $26.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.72 and a current ratio of 2.08.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KRG. Pineridge Advisors LLC purchased a new position in shares of Kite Realty Group Trust in the 4th quarter worth $39,000. Fidelis Capital Partners LLC purchased a new position in shares of Kite Realty Group Trust in the 1st quarter worth $42,000. GAMMA Investing LLC raised its position in shares of Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,204 shares during the period. Quarry LP raised its position in shares of Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in shares of Kite Realty Group Trust in the 1st quarter worth $52,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.