The stock of Kite Realty Group Trust (NYSE:KRG) hit a new 52-week low and has $23.01 target or 5.00% below today’s $24.22 share price. The 8 months bearish chart indicates high risk for the $2.03B company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $23.01 price target is reached, the company will be worth $101.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 125,865 shares traded hands. Kite Realty Group Trust (NYSE:KRG) has declined 10.77% since April 7, 2016 and is downtrending. It has underperformed by 15.55% the S&P500.
Kite Realty Group Trust (NYSE:KRG) Ratings Coverage
Out of 7 analysts covering Kite Realty Group Trust (NYSE:KRG), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Kite Realty Group Trust has been the topic of 8 analyst reports since September 3, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, April 1 by DA Davidson. The stock has “Outperform” rating given by Raymond James on Monday, May 2. BTIG Research initiated it with “Buy” rating and $35 target price in Thursday, August 25 report. The firm has “Sector Weight” rating given on Thursday, December 17 by KeyBanc Capital Markets. The stock of Kite Realty Group Trust (NYSE:KRG) earned “Neutral” rating by Robert W. Baird on Thursday, January 7. Barclays Capital initiated it with “Overweight” rating and $33 target price in Friday, July 22 report. As per Thursday, September 3, the company rating was upgraded by Raymond James. The firm earned “Buy” rating on Monday, October 31 by Hilliard Lyons.
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 Q2 2016. Its down 0.08, from 1.41 in 2016Q1. The ratio dived, 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.
Alliancebernstein Limited Partnership accumulated 1.04 million shares or 0.03% of the stock. Moreover, Macquarie Grp Ltd has 0.05% invested in Kite Realty Group Trust (NYSE:KRG) for 881,122 shares. Sg Americas Securities Ltd Liability accumulated 22,940 shares or 0% of the stock. Invest Counselors Of Maryland Limited Liability Co accumulated 1.18% or 767,540 shares. Baker Ellis Asset Management Lc has invested 0.07% of its portfolio in Kite Realty Group Trust (NYSE:KRG). The Manitoba – Canada-based Great West Life Assurance Can has invested 0% in Kite Realty Group Trust (NYSE:KRG). Zurcher Kantonalbank (Zurich Cantonalbank) has 0.01% invested in the company for 18,920 shares. Virginia Retirement Et Al holds 0.04% of its portfolio in Kite Realty Group Trust (NYSE:KRG) for 100,400 shares. Lpl Llc holds 0.01% of its portfolio in Kite Realty Group Trust (NYSE:KRG) for 36,557 shares. Financial Management Professionals holds 4,267 shares or 0.06% of its portfolio. The Alabama-based Kistler has invested 0% in Kite Realty Group Trust (NYSE:KRG). Cambridge Investment Research reported 51,539 shares or 0.03% of all its holdings. The Massachusetts-based Panagora Asset Mngmt Inc has invested 0.02% in Kite Realty Group Trust (NYSE:KRG). Diam Co Ltd has 0.26% invested in the company for 619,962 shares. Walleye Trading Ltd Liability Company last reported 1,227 shares in the company.
Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 3 insider sales for $1.66 million net activity. Kite John A sold 33,000 shares worth $992,808. Sink Daniel R also sold $497,930 worth of Kite Realty Group Trust (NYSE:KRG) on Friday, July 29. $166,225 worth of shares were sold by Olinger Thomas R on Monday, August 1.
More important recent Kite Realty Group Trust (NYSE:KRG) news were published by: Businesswire.com which released: “Kite Realty Group Trust Reports Third Quarter Operating Results” on October 27, 2016, also Businesswire.com published article titled: “Kite Realty Group Trust Announces Pricing of Inaugural $300 Million Public …”, Reuters.com published: “BRIEF- Kite Realty Group Trust provides update on Hurricane Matthew” on October 10, 2016. More interesting news about Kite Realty Group Trust (NYSE:KRG) was released by: Businesswire.com and their article: “Kite Realty Group Trust Provides Update on Hurricane Matthew” with publication date: October 10, 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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