Worth Watching: Could Kite Realty Group Trust Recover After Today’s Huge Decline?

Worth Watching: Could Kite Realty Group Trust Recover After Today's Huge Decline?

The stock of Kite Realty Group Trust (NYSE:KRG) is a huge mover today! The stock decreased 2.25% or $0.6 on October 5, hitting $26.1. Kite Realty Group Trust (NYSE:KRG) has declined 3.54% since March 2, 2016 and is downtrending. It has underperformed by 11.80% the S&P500.
The move comes after 5 months negative chart setup for the $2.18B company. It was reported on Oct, 6 by Barchart.com. We have $24.80 PT which if reached, will make NYSE:KRG worth $109.00 million less.

Analysts await Kite Realty Group Trust (NYSE:KRG) to report earnings on November, 3. They expect $0.52 EPS, up 1.96% or $0.01 from last year’s $0.51 per share. KRG’s profit will be $43.43M for 12.55 P/E if the $0.52 EPS becomes a reality. After $0.52 actual EPS reported by Kite Realty Group Trust for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Kite Realty Group Trust (NYSE:KRG) Ratings Coverage

Out of 6 analysts covering Kite Realty Group Trust (NYSE:KRG), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Kite Realty Group Trust has been the topic of 7 analyst reports since September 3, 2015 according to StockzIntelligence Inc. The rating was downgraded by Raymond James on Monday, May 2 to “Outperform”. Barclays Capital initiated the shares of KRG in a report on Friday, July 22 with “Overweight” rating. Robert W. Baird downgraded it to “Neutral” rating and $28 target price in Thursday, January 7 report. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Thursday, December 17. On Friday, April 1 the stock rating was initiated by DA Davidson with “Buy”. The firm earned “Strong Buy” rating on Thursday, September 3 by Raymond James. The stock of Kite Realty Group Trust (NYSE:KRG) has “Buy” rating given on Thursday, August 25 by BTIG Research.

According to Zacks Investment Research, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development.”

Insitutional Activity: The institutional sentiment decreased to 1.33 in 2016 Q2. Its down 0.08, from 1.41 in 2016Q1. The ratio turned negative, as 20 funds sold all Kite Realty Group Trust shares owned while 65 reduced positions. 33 funds bought stakes while 80 increased positions. They now own 74.24 million shares or 2.34% less from 76.01 million shares in 2016Q1.
The New York-based Pinebridge Invests Lp has invested 0.02% in Kite Realty Group Trust (NYSE:KRG). Sg Americas Securities Ltd accumulated 0% or 22,940 shares. Tdam Usa Inc reported 45,546 shares or 0.06% of all its holdings. State Board Of Administration Of Florida Retirement Sys last reported 0% of its portfolio in the stock. Voya Lc reported 33,677 shares or 0% of all its holdings. Fmr Llc last reported 11.25 million shares in the company. Goldman Sachs Group has invested 0% of its portfolio in Kite Realty Group Trust (NYSE:KRG). Kbc Grp Inc Nv has invested 0.02% of its portfolio in Kite Realty Group Trust (NYSE:KRG). Tower Cap Limited (Trc) holds 0.01% or 4,673 shares in its portfolio. Royal Comml Bank Of Canada holds 0% or 25,764 shares in its portfolio. Los Angeles Cap Mngmt And Equity Research last reported 0% of its portfolio in the stock. Raymond James Financial Service Advsr accumulated 100,893 shares or 0.03% of the stock. Pensionfund Dsm Netherlands last reported 0.3% of its portfolio in the stock. First Citizens Natl Bank Tru accumulated 20,146 shares or 0.05% of the stock. Amica Retiree Med Trust last reported 907 shares in the company.

Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 3 sales for $1.66 million net activity. Sink Daniel R sold $497,930 worth of Kite Realty Group Trust (NYSE:KRG) on Friday, July 29. Olinger Thomas R sold $166,225 worth of Kite Realty Group Trust (NYSE:KRG) on Monday, August 1. 33,000 shares were sold by Kite John A, worth $992,808.

More notable recent Kite Realty Group Trust (NYSE:KRG) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Kite Realty Group Trust, Physicians Realty Trust and …” on September 30, 2016, also Businesswire.com with their article: “Kite Realty Group Trust Announces Pricing of Inaugural $300 Million Public …” published on September 15, 2016, Businesswire.com published: “Kite Realty Group Trust Announces Quarterly Common Dividend” on August 11, 2016. More interesting news about Kite Realty Group Trust (NYSE:KRG) were released by: Reuters.com and their article: “Exclusive: Kite Realty in bid to merge with WP Glimcher – sources” published on June 08, 2016 as well as Businesswire.com‘s news article titled: “Kite Realty Group Trust to Report Third Quarter 2016 Financial Results on …” with publication date: August 12, 2016.

KRG Company Profile

Kite Realty Group Trust, incorporated on March 29, 2004, is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States. The Firm holds interests in approximately three development projects under construction, and over six redevelopment projects.

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