Analysts Set Kite Realty Group Trust (NYSE:KRG) Price Target at $27.88

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $27.88.

A number of brokerages have commented on KRG. Piper Sandler reissued a “neutral” rating and set a $25.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target 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. Raymond James cut their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their target price for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their price target on shares of 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.

Kite Realty Group Trust Trading Down 3.6 %

NYSE KRG opened at $20.82 on Friday. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The business has a 50 day moving average price of $22.58 and a 200-day moving average price of $24.67. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 1,040.75, a P/E/G ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share 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%. As a group, equities 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 annualized dividend and a dividend yield of 5.19%. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Hedge Funds Weigh In On Kite Realty Group Trust

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Kite Realty Group Trust by 2.6% in the third quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock valued at $760,000 after buying an additional 737 shares during the period. BNP Paribas Financial Markets lifted its holdings in Kite Realty Group Trust by 11.3% during the third quarter. BNP Paribas Financial Markets now owns 53,782 shares of the real estate investment trust’s stock valued at $1,428,000 after purchasing an additional 5,447 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after purchasing an additional 1,105,539 shares during the last quarter. Captrust Financial Advisors boosted its position in Kite Realty Group Trust by 6.8% during the third quarter. Captrust Financial Advisors now owns 17,601 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 1,114 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $969,000. 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.