Wells Fargo & Company Issues Positive Forecast for Kite Realty Group Trust (NYSE:KRG) Stock Price

Kite Realty Group Trust (NYSE:KRG) had its price target increased by Wells Fargo & Company from $25.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other brokerages also recently commented on KRG. Robert W. Baird upped their price objective on 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. UBS Group reiterated a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Wall Street Zen upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Citigroup reissued a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Tuesday, February 24th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Kite Realty Group Trust has a consensus rating of “Hold” and an average price target of $26.38.

Kite Realty Group Trust Stock Up 0.3%

Shares of Kite Realty Group Trust stock opened at $25.33 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The business’s 50 day simple moving average is $24.73 and its 200-day simple moving average is $23.43. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 4.58 and a beta of 0.86. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $26.38.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, April 9th. Kite Realty Group Trust’s payout ratio is currently 84.06%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners raised its position in shares of Kite Realty Group Trust by 182.0% during the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 726 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Kite Realty Group Trust by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares in the last quarter. First Horizon Corp bought a new position in shares of Kite Realty Group Trust in the third quarter valued at approximately $30,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of 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 valued at $31,000 after acquiring an additional 740 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.