Brokerages Set Kite Realty Group Trust (NYSE:KRG) PT at $27.63

Shares of Kite Realty Group Trust (NYSE:KRG) have received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $27.63.

Several equities analysts have weighed in on the company. Raymond James Financial dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, May 23rd. Wall Street Zen upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.70 on Wednesday. The company has a market cap of $4.99 billion, a P/E ratio of 324.21, a P/E/G ratio of 5.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50-day moving average of $22.07 and a two-hundred day moving average of $22.91. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $221.76 million during the quarter, compared to the consensus estimate 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 anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust’s payout ratio is 1,542.86%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. lifted its stake in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 467 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Kite Realty Group Trust by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust’s stock worth $1,376,000 after purchasing an additional 500 shares during the last quarter. Arizona State Retirement System lifted its stake in Kite Realty Group Trust by 0.8% during the fourth quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock worth $1,609,000 after purchasing an additional 516 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Kite Realty Group Trust by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust’s stock worth $806,000 after purchasing an additional 556 shares during the last quarter. Finally, FIL Ltd lifted its stake in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.