Kite Realty Group Trust (NYSE:KRG) Receives $27.22 Average PT from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $27.22.

A number of brokerages have recently weighed in on KRG. Wells Fargo & Company cut their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price objective on the stock. Wall Street Zen lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Raymond James Financial cut their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Friday, May 23rd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Kite Realty Group Trust by 332.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust’s stock worth $33,776,000 after purchasing an additional 1,160,694 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust in the fourth quarter worth $19,632,000. GAMMA Investing LLC raised its stake in shares of Kite Realty Group Trust by 1,523.9% in the first quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust’s stock worth $1,739,000 after purchasing an additional 72,949 shares during the last quarter. M&T Bank Corp raised its stake in shares of Kite Realty Group Trust by 52.5% in the first quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust’s stock worth $1,244,000 after purchasing an additional 19,132 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Kite Realty Group Trust in the first quarter worth $795,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

KRG opened at $22.18 on Friday. The stock’s 50 day simple moving average is $22.47 and its 200 day simple moving average is $22.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 316.86, a PEG ratio of 6.90 and a beta of 1.09.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $221.76 million for the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. As a group, analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust’s payout ratio is 1,542.86%.

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.