Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $28.13

Kite Realty Group Trust (NYSE:KRG) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $28.13.

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Robert W. Baird increased their price objective 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. Raymond James decreased their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th.

Kite Realty Group Trust Stock Up 2.6 %

Shares of NYSE:KRG opened at $21.78 on Monday. The company has a fifty day moving average of $22.92 and a 200-day moving average of $25.10. The company has a market capitalization of $4.79 billion, a PE ratio of 1,089.20, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 annualized dividend and a yield of 4.96%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 5,400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRG. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust in the 3rd quarter valued at about $39,000. Versant Capital Management Inc increased its stake in 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 valued at $62,000 after buying an additional 2,080 shares during the last quarter. Optiver Holding B.V. increased its stake in Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 467 shares during the last quarter. FIL Ltd increased its stake 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 buying an additional 579 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC purchased a new stake in Kite Realty Group Trust in the 4th quarter valued at about $101,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.