Kite Realty Group Trust (NYSE:KRG) Receives $28.00 Average PT from Analysts

Kite Realty Group Trust (NYSE:KRG) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $28.00.

Several brokerages have issued reports on KRG. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. KeyCorp boosted their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $26.33 on Monday. The stock has a market capitalization of $5.78 billion, a P/E ratio of 101.27, a price-to-earnings-growth ratio of 3.97 and a beta of 1.29. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.15. The firm has a 50 day moving average of $25.09 and a 200-day moving average of $22.69.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares in the company, valued at $19,624,353.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Kite Realty Group Trust

A number of institutional investors and hedge funds have recently modified their holdings of KRG. Norges Bank bought a new position in Kite Realty Group Trust during the 4th quarter worth approximately $52,746,000. Land & Buildings Investment Management LLC acquired a new stake in Kite Realty Group Trust in the second quarter worth $22,277,000. Vanguard Group Inc. boosted its position in shares of Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after purchasing an additional 881,502 shares in the last quarter. APG Asset Management US Inc. acquired a new position in shares of Kite Realty Group Trust in the 2nd quarter valued at $16,665,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Kite Realty Group Trust by 28.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after buying an additional 693,852 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

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.