Kite Realty Group Trust (NYSE:KRG) was upgraded to “Equal-Weight” by Wells Fargo & Company

Kite Realty Group Trust (NYSE:KRG – Get Free Report) was upgraded by stock analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $26.00 target price on the real estate investment trust’s stock, up from their previous price target of $23.00. Wells Fargo & Company’s price objective would indicate a potential upside of 0.70% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. KeyCorp boosted their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Kite Realty Group Trust presently has an average rating of “Moderate Buy” and a consensus price target of $26.83, according to MarketBeat.com.

Check out the latest stock analysis on Kite Realty Group Trust

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $25.82 on Wednesday. The firm has a 50-day moving average of $23.80 and a 200-day moving average of $22.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.72, and a current ratio of 2.08. The stock has a market cap of $5.67 billion, a PE ratio of 99.31, a P/E/G ratio of 6.25 and a beta of 1.31. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $26.22.

Hedge funds influence Kite Realty Group Trust

Several hedge funds have recently bought and sold shares of KRG. Pineridge Advisors LLC bought a new position in Kite Realty Group Trust in the 4th quarter valued at about $39,000. Fidelis Capital Partners LLC bought a new position in Kite Realty Group Trust in the first quarter valued at about $42,000. GAMMA Investing LLC boosted its holdings in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. Quarry LP boosted its holdings in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC bought a new position in Kite Realty Group Trust in the first quarter valued at approximately $52,000. 90.81% of shares are held by institutional investors.

About Kite Realty Group Trust

(Get a free report)

Kite Realty Group Trust (NYSE: KRG ) is an Indianapolis, IN-based real estate investment trust (REIT) that is one of the largest publicly traded owners and operators of outdoor shopping centers and mixed-use assets. The company’s primarily food-based portfolio is located in the high-growth Sun Belt and select strategic markets.

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