Kite Realty Group Trust (NYSE:KRG) Sets New 1-Year High – Should You Buy?

Kite Realty Group Trust (NYSE:KRG) hit a new 52-week high during trading on Wednesday . The stock traded as high as $27.94 and last traded at $27.28, with a volume of 71212 shares changing hands. The stock had previously closed at $26.87.

Analyst Upgrades and Downgrades

KRG has been the subject of several recent research reports. Compass Point boosted their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird boosted their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler boosted their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, KeyCorp boosted their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Kite Realty Group Trust Trading Up 0.3 %

The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of -678.25, a price-to-earnings-growth ratio of 4.04 and a beta of 1.29. The business has a fifty day moving average price of $26.16 and a 200 day moving average price of $23.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. Kite Realty Group Trust’s payout ratio is -2,600.00%.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Kite Realty Group Trust by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock valued at $3,408,000 after purchasing an additional 484 shares in the last quarter. Marcum Wealth LLC raised its stake in shares of Kite Realty Group Trust by 1.4% in the third quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 571 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Kite Realty Group Trust by 2.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after purchasing an additional 671 shares in the last quarter. United Services Automobile Association raised its stake in shares of Kite Realty Group Trust by 4.6% in the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 777 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in Kite Realty Group Trust by 1.5% in the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after acquiring an additional 900 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.