Kite Realty Group Trust (NYSE:KRG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.13.

A number of research firms recently commented on KRG. Robert W. Baird increased their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th.

Kite Realty Group Trust Stock Down 0.2 %

Shares of NYSE KRG opened at $22.37 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average of $23.95 and a 200-day moving average of $25.39. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 1,118.60, a PEG ratio of 3.60 and a beta of 1.27. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Sell-side analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Kite Realty Group Trust in the third quarter worth about $39,000. Strategic Investment Solutions Inc. IL purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at about $45,000. Versant Capital Management Inc raised its position in Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares during the last quarter. Finally, Optiver Holding B.V. lifted its holdings in Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 467 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.