Kite Realty Group Trust (NYSE:KRG) Receives $26.38 Average Price Target from Analysts

Kite Realty Group Trust (NYSE:KRG) has been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $26.3750.

A number of research firms recently weighed in on KRG. Jefferies Financial Group reissued a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Robert W. Baird raised their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. UBS Group reissued a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Citigroup restated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Finally, Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $24.59 on Friday. The firm’s 50-day moving average is $24.75 and its 200-day moving average is $23.45. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 4.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $26.38.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Thursday, April 9th. Kite Realty Group Trust’s payout ratio is 84.06%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Kite Realty Group Trust by 32.2% during the 1st quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock valued at $1,797,000 after acquiring an additional 19,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Kite Realty Group Trust by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock valued at $2,893,000 after acquiring an additional 5,666 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kite Realty Group Trust in the second quarter worth about $268,000. Geode Capital Management LLC raised its position in Kite Realty Group Trust by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after purchasing an additional 40,017 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Kite Realty Group Trust by 7.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 49,631 shares of the real estate investment trust’s stock worth $1,124,000 after purchasing an additional 3,347 shares during the period. Institutional investors and hedge funds 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 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.