Kite Realty Group Trust (KRG) Formed a Multiple Bottom Chart Pattern, Could Be One of The Worst Performers Going Forward

September 17, 2017 - By Adrian Mccoy

Investors sentiment increased to 1.33 in Q4 2016. Its up 0.47, from 0.86 in 2016Q3. It is positive, as 18 investors sold Kite Realty Group Trust shares while 65 reduced holdings. 34 funds opened positions while 76 raised stakes. 74.51 million shares or 0.53% less from 74.91 million shares in 2016Q3 were reported.
Ubs Asset Management Americas owns 126,811 shares. Credit Agricole S A reported 50,978 shares stake. Nomura Asset Management Company owns 55,450 shares for 0.02% of their portfolio. Northwestern Mutual Wealth Management accumulated 788 shares. Tiaa Cref Invest Mgmt Ltd Liability Corp holds 0% or 241,006 shares in its portfolio. Blackrock Inc holds 0% or 126,436 shares. Creative Planning holds 56 shares or 0% of its portfolio. Presima Inc owns 2.07% invested in Kite Realty Group Trust (NYSE:KRG) for 595,775 shares. Deutsche National Bank Ag has 54,572 shares. Sg Americas Secs Lc owns 7,869 shares or 0% of their US portfolio. Bancorp Of America De holds 0% in Kite Realty Group Trust (NYSE:KRG) or 702,029 shares. Daiwa Securities Grp reported 0% in Kite Realty Group Trust (NYSE:KRG). Cwm Ltd Llc has invested 0% in Kite Realty Group Trust (NYSE:KRG). Riverhead Capital Mngmt holds 0.01% of its portfolio in Kite Realty Group Trust (NYSE:KRG) for 3,500 shares. Susquehanna Intll Limited Liability Partnership invested in 0% or 131,385 shares.

Since March 31, 2017, it had 0 insider buys, and 1 sale for $537,750 activity. Another trade for 25,000 shares valued at $537,750 was made by Kite John A on Friday, March 31.

The stock of Kite Realty Group Trust (KRG) shows a multiple bottoms pattern with $19.47 target or 6.00 % below today’s $20.71 share price. The 6 months chart pattern indicates high risk for the $1.73 billion company. It was reported on Sep, 17 by Finviz.com. If the $19.47 price target is reached, the company will be worth $103.80M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.10% or $0.02 on September 15, reaching $20.71. About 874,108 shares traded or 46.55% up from the average. Kite Realty Group Trust (NYSE:KRG) has declined 27.51% since September 17, 2016 and is downtrending. It has underperformed by 44.21% the S&P500.

Wall Street await Kite Realty Group Trust (NYSE:KRG) to release earnings on October, 26. Analysts forecast EPS of $0.49, down exactly $0.03 or 5.77 % from 2014’s $0.52 EPS. The expected KRG’s profit could reach $40.93M giving the stock 10.57 P/E in the case that $0.49 earnings per share is reported. After posting $0.54 EPS for the previous quarter, Kite Realty Group Trust’s analysts now forecast -9.26 % negative EPS growth.

Kite Realty Group Trust (NYSE:KRG) Ratings Coverage

Among 9 analysts covering Kite Realty Group Trust (NYSE:KRG), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Kite Realty Group Trust had 14 analyst reports since September 3, 2015 according to SRatingsIntel. The rating was upgraded by Raymond James on Thursday, September 3 to “Strong Buy”. The company was upgraded on Monday, January 9 by Raymond James. The stock of Kite Realty Group Trust (NYSE:KRG) earned “Buy” rating by DA Davidson on Friday, April 1. On Thursday, January 7 the stock rating was downgraded by Robert W. Baird to “Neutral”. Barclays Capital initiated Kite Realty Group Trust (NYSE:KRG) on Friday, July 22 with “Overweight” rating. The stock has “Buy” rating by Hilliard Lyons on Monday, October 31. The firm earned “Outperform” rating on Monday, May 2 by Raymond James. The rating was downgraded by Stifel Nicolaus on Monday, December 12 to “Hold”. As per Thursday, August 25, the company rating was initiated by BTIG Research. Citigroup downgraded the shares of KRG in report on Tuesday, December 13 to “Neutral” rating.

More notable recent Kite Realty Group Trust (NYSE:KRG) news were published by: Nasdaq.com which released: “Kite Realty Group Trust (KRG) Ex-Dividend Date Scheduled for July 03, 2017” on June 30, 2017, also Seekingalpha.com with their article: “6% Yield And 40% Upside At Kite Realty Trust” published on May 05, 2017, Nasdaq.com published: “Kite Realty Group Trust Reports Only Minimal Damage From Hurricane Irma” on September 12, 2017. More interesting news about Kite Realty Group Trust (NYSE:KRG) were released by: Seekingalpha.com and their article: “Kite Realty: Solid Value With An Outsized Yield” published on March 28, 2017 as well as Nasdaq.com‘s news article titled: “Kite Realty Group Trust is Oversold” with publication date: May 16, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.