Kite Realty Group Trust (KRG) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on May 2, 2016.
Many Wall Street Analysts have commented on Kite Realty Group Trust. DA Davidson Initiated Kite Realty Group Trust on Apr 1, 2016 to “Buy”, Price Target of the shares are set at $33.
On the company’s financial health, Kite Realty Group Trust reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.50. The company had revenue of $88.55 million for the quarter, compared to analysts expectations of $87.43 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
Kite Realty Group Trust opened for trading at $27.37 and hit $27.57 on the upside on Wednesday, eventually ending the session at $27.55, with a gain of 0.25% or 0.07 points. The heightened volatility saw the trading volume jump to 2,35,456 shares. Company has a market cap of $2,298 M.
In a different news, on Feb 12, 2016, Thomas R Olinger (Senior VP & CAO) sold 2,283 shares at $26.36 per share price. According to the SEC, on Dec 3, 2015, John A Kite (Chairman & CEO) sold 10,000 shares at $27.11 per share price.
Kite Realty Group Trust is a full-service vertically integrated real estate company engaged in the ownership and operation acquisition development and redevelopment of neighborhood and community shopping centers in the United States. The Company conducts all of its business through its operating partnership Kite Realty Group L.P. (KRG). The Company held a 98.1% interest in KRG with limited partners owning the remaining 1.9%. The Company owns interests in 118 retail operating properties totaling approximately 23.9 million square feet of gross leasable area (including approximately 7.7 million square feet of non-owned anchor space) located in 26 states. Its retail operating portfolio was 94.8% leased to a diversified retail tenant base with no single retail tenant accounting for more than 3.4% of its total annualized base rent.