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

Kite Realty Group Trust (NYSE:KRG) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.13.

Several equities research analysts have recently issued reports on KRG shares. Piper Sandler restated a “neutral” rating and set a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Raymond James reduced their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, Robert W. Baird lifted their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EMC Capital Management boosted its holdings in Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 447 shares during the period. Fifth Third Bancorp boosted its holdings in Kite Realty Group Trust by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 466 shares during the period. Optiver Holding B.V. boosted its holdings in Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 467 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kite Realty Group Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock valued at $2,554,000 after purchasing an additional 483 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Kite Realty Group Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock valued at $1,609,000 after purchasing an additional 516 shares during the period. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Trading Up 2.6 %

Shares of KRG stock opened at $21.78 on Monday. The company has a 50 day moving average of $22.92 and a 200-day moving average of $25.10. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The firm has a market cap of $4.79 billion, a P/E ratio of 1,089.20, a PEG ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.96%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is 5,400.00%.

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.