Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $29.13

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $29.13.

Several research firms have recently issued reports on KRG. JPMorgan Chase & Co. reduced their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price target for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. KeyCorp upped their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird boosted 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.

Institutional Trading of Kite Realty Group Trust

Large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust in the third quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $45,000. Quarry LP lifted its position in shares of Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,167 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of 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 worth $62,000 after acquiring an additional 2,080 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $23.81 on Friday. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The stock has a 50-day simple moving average of $25.41 and a 200 day simple moving average of $25.48. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of -595.23, a P/E/G ratio of 3.57 and a beta of 1.29.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.43). The firm had revenue of $207.25 million during the quarter, compared to the consensus estimate of $210.39 million. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. During the same quarter in the previous year, the business posted $0.51 earnings per share. On average, research analysts anticipate that Kite Realty Group Trust will post 2.07 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, January 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.54%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, January 10th. Kite Realty Group Trust’s payout ratio is presently -2,700.00%.

Kite Realty Group Trust Company Profile

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.