Kite Realty Group Trust (NYSE:KRG) Price Target Lowered to $28.00 at Raymond James

Kite Realty Group Trust (NYSE:KRG) had its target price reduced by Raymond James from $31.00 to $28.00 in a report published on Monday morning,Benzinga reports. They currently have a strong-buy rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on KRG. JPMorgan Chase & Co. lowered their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. KeyCorp lifted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Piper Sandler reiterated a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.13.

Kite Realty Group Trust Trading Down 0.5 %

Shares of KRG stock opened at $21.91 on Monday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The stock’s fifty day moving average is $23.05 and its two-hundred day moving average is $25.15. The firm has a market capitalization of $4.81 billion, a P/E ratio of 1,095.50, a PEG ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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%. Research 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

Institutional Trading of Kite Realty Group Trust

Several institutional investors and hedge funds have recently bought and sold shares of KRG. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust during the third quarter valued at about $39,000. Versant Capital Management Inc lifted its holdings in shares of Kite Realty Group Trust by 551.7% in 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. Optiver Holding B.V. boosted its position in shares of Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 467 shares during the period. FIL Ltd increased its holdings in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in Kite Realty Group Trust in the fourth quarter valued at approximately $101,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.