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

Kite Realty Group Trust (NYSE:KRG) has received a consensus rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $26.3750.

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. UBS Group reaffirmed a “neutral” rating and set a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Robert W. Baird increased their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Wells Fargo & Company raised their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research note on Tuesday, February 24th.

Kite Realty Group Trust Trading Up 0.8%

Shares of NYSE KRG opened at $25.97 on Tuesday. The company’s 50 day simple moving average is $25.28 and its 200 day simple moving average is $23.76. Kite Realty Group Trust has a fifty-two week low of $20.86 and a fifty-two week high of $26.38. The firm has a market capitalization of $5.27 billion, a P/E ratio of 18.82, a P/E/G ratio of 4.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.74.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.5%. Kite Realty Group Trust’s payout ratio is currently 84.06%.

Institutional Trading of Kite Realty Group Trust

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors increased its holdings in Kite Realty Group Trust by 2.8% during the 4th quarter. Captrust Financial Advisors now owns 15,296 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 410 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 462 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in shares of Kite Realty Group Trust by 2.7% during the 3rd quarter. NewEdge Wealth LLC now owns 18,058 shares of the real estate investment trust’s stock worth $398,000 after buying an additional 467 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Kite Realty Group Trust by 3.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the real estate investment trust’s stock worth $406,000 after acquiring an additional 488 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Kite Realty Group Trust by 2.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,636 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 499 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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.