Kite Realty Group Trust (NYSE:KRG) Given Average Rating of “Hold” by Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $25.6250.

Several research firms have commented on KRG. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings upgraded shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday.

Institutional Investors Weigh In On Kite Realty Group Trust

Several large investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in Kite Realty Group Trust during the third quarter valued at about $516,000. Candriam S.C.A. bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at approximately $2,066,000. Envestnet Asset Management Inc. lifted its holdings in Kite Realty Group Trust by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 300,382 shares of the real estate investment trust’s stock worth $6,699,000 after purchasing an additional 54,914 shares in the last quarter. AlphaQuest LLC lifted its holdings in Kite Realty Group Trust by 227.5% in the 3rd quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust’s stock worth $1,403,000 after purchasing an additional 43,716 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in Kite Realty Group Trust in the 2nd quarter worth approximately $1,882,000. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $25.92 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The stock has a market cap of $5.36 billion, a P/E ratio of 18.78, a P/E/G ratio of 6.51 and a beta of 0.91. The business’s 50 day moving average price is $24.01 and its 200-day moving average price is $22.93. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $26.13.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 84.06%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.