Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $27.22

Kite Realty Group Trust (NYSE:KRG) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.22.

Several research analysts recently issued reports on KRG shares. Wells Fargo & Company cut their target price 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. Wall Street Zen cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. 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. Finally, 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.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $22.18 on Friday. The stock’s 50 day moving average is $22.47 and its 200 day 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. The firm has a market cap of $4.88 billion, a P/E ratio of 316.86, a P/E/G ratio of 6.90 and a beta of 1.09. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results 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 business 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, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

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

Institutional Trading of Kite Realty Group Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $25,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Kite Realty Group Trust during the 1st quarter valued at about $25,000. UMB Bank n.a. increased its position in shares of Kite Realty Group Trust by 103.0% during the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,323 shares during the last quarter. Optiver Holding B.V. increased its position in shares of Kite Realty Group Trust by 19.9% during 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 purchasing an additional 467 shares during the last quarter. Finally, CX Institutional bought a new position in shares of Kite Realty Group Trust during the 1st quarter valued at about $79,000. 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.