Barclays Initiates Coverage on Kite Realty Group Trust to Overweight

Barclays Initiates Coverage on Kite Realty Group Trust(NYSE:KRG). The shares have been rated Overweight. The rating by Barclays was issued on Jul 22, 2016.

Kite Realty Group Trust (KRG) made into the market gainers list on Thursdays trading session with the shares advancing 1.30% or 0.39 points. Due to strong positive momentum, the stock ended at $30.28, which is also near the day’s high of $30.42. The stock began the session at $29.9 and the volume stood at 5,82,270 shares. The 52-week high of the shares is $30.08 and the 52 week low is $22.82. The company has a current market capitalization of $2,524 M and it has 8,33,64,345 shares in outstanding.

Kite Realty Group Trust(KRG) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $88.55M. Analysts had an estimated revenue of $87.34M. Earnings per share were $0.52. Analysts had estimated an EPS of $0.50.

Several Insider Transactions has been reported to the SEC. On Feb 12, 2016, Thomas R Olinger (Senior VP & CAO) sold 2,283 shares at $26.36 per share price.Also, 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.

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