Kite Realty Group Trust (NYSE:KRG) Price Target Lowered to $23.00 at Wells Fargo & Company

Kite Realty Group Trust (NYSE:KRG) had its price target reduced by Wells Fargo & Company from $24.00 to $23.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on KRG. Piper Sandler reissued a “neutral” rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. UBS Group started coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price target on the stock. Raymond James Financial cut their price objective 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. Finally, Wall Street Zen lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $22.68 on Wednesday. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 6.17 and a beta of 1.16. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The firm’s 50 day simple moving average is $22.33 and its 200-day simple moving average is $22.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The firm had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Analysts expect 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 Thursday, October 16th. Stockholders of record on Thursday, October 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio is 136.71%.

Institutional Trading of Kite Realty Group Trust

Large investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in Kite Realty Group Trust in the 1st quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust in the first quarter valued at approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust in the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its position in Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 740 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Kite Realty Group Trust by 103.0% during the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,323 shares during the last quarter. 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.