Robert W. Baird Downgrades Kite Realty Group (KRG) to Hold


Robert W. Baird analyst RJ Milligan downgraded Kite Realty Group (NYSE: KRG) to Hold today and set a price target of $17. The company’s shares closed yesterday at $15.46.

According to TipRanks.com, Milligan is a 4-star analyst with an average return of 6.0% and a 65.6% success rate. Milligan covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Extra Space Storage, and VICI Properties Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kite Realty Group with a $17.67 average price target.

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Based on Kite Realty Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.2 million. In comparison, last year the company had a GAAP net loss of $622K.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. Last month, John Kite, the Chairman & CEO of KRG sold 35,000 shares for a total of $609,700.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Kite Realty Group Trust engages in the ownership, operation, acquisition, development, and redevelopment of neighborhood and community shopping centers in selected markets in the United States. The company was founded in August 2004 and is headquartered in Indianapolis, IN.

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