Kite Realty Group Trust (NYSE:KRG) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Kite Realty Group Trust (NYSE:KRG - Get Free Report) had its target price increased by Robert W. Baird from $26.00 to $29.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Robert W. Baird's target price points to a potential upside of 8.41% from the stock's previous close.

A number of other research firms also recently commented on KRG. Piper Sandler boosted 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. 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 for the company in a research note on Friday, August 16th. Wells Fargo & Company raised Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. KeyCorp increased their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock traded down $0.09 during midday trading on Friday, reaching $26.75. The company's stock had a trading volume of 796,034 shares, compared to its average volume of 1,594,516. 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 fifty-two week low of $19.64 and a fifty-two week high of $27.94. The firm has a market capitalization of $5.88 billion, a PE ratio of -671.00, a P/E/G ratio of 4.16 and a beta of 1.29. The stock's 50 day simple moving average is $26.27 and its 200 day simple moving average is $24.10.

Insider Buying and Selling

In other news, Director Steven P. Grimes sold 37,295 shares of the firm'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 sale, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 881,502 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kite Realty Group Trust by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust's stock valued at $96,993,000 after purchasing an additional 173,290 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust's stock worth $73,442,000 after acquiring an additional 190,380 shares during the period. Millennium Management LLC grew its holdings in Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust's stock valued at $57,427,000 after buying an additional 386,566 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Kite Realty Group Trust by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust's stock worth $48,955,000 after acquiring an additional 32,493 shares during the period. 90.81% of the stock is owned by institutional investors.

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.