Kite Realty Group Trust (NYSE:KRG) Given Average Recommendation of “Moderate Buy” by Brokerages

Kite Realty Group Trust (NYSE:KRG) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $28.86.

KRG has been the topic of several recent analyst reports. Compass Point raised their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Piper Sandler lifted their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, Robert W. Baird lifted their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, November 15th.

Kite Realty Group Trust Price Performance

KRG opened at $27.57 on Friday. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24. The stock has a market cap of $6.06 billion, a P/E ratio of -689.25, a PEG ratio of 3.86 and a beta of 1.29. The business has a fifty day moving average of $26.51 and a 200 day moving average of $24.58. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a $0.27 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 3.92%. Kite Realty Group Trust’s payout ratio is -2,600.00%.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Kite Realty Group Trust by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 137,186 shares of the real estate investment trust’s stock valued at $2,975,000 after buying an additional 8,353 shares in the last quarter. Boston Partners purchased a new stake in shares of Kite Realty Group Trust during the first quarter worth about $752,000. GAMMA Investing LLC increased its holdings in shares of Kite Realty Group Trust by 158.2% during the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,204 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Kite Realty Group Trust by 13.4% in the 2nd quarter. SG Americas Securities LLC now owns 25,584 shares of the real estate investment trust’s stock valued at $573,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Kite Realty Group Trust by 15.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,372 shares of the real estate investment trust’s stock worth $478,000 after purchasing an additional 2,916 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.