Kite Realty Group Trust (NYSE:KRG) Sets New 1-Year High – Still a Buy?

Kite Realty Group Trust (NYSE:KRG) reached a new 52-week high during trading on Wednesday . The company traded as high as $28.24 and last traded at $28.14, with a volume of 153137 shares changing hands. The stock had previously closed at $27.80.

Analyst Ratings Changes

Several equities research analysts have recently commented on KRG shares. Compass Point boosted their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. KeyCorp upped their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, August 16th. Finally, Robert W. Baird raised their price objective 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.86.

Kite Realty Group Trust Stock Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The stock has a market cap of $6.12 billion, a PE ratio of -696.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.29. The firm has a fifty day moving average price of $26.49 and a 200 day moving average price of $24.53.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.88%. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,700.00%.

Insider Transactions at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in shares of Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 950 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Kite Realty Group Trust during the 3rd quarter worth about $39,000. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at about $45,000. GAMMA Investing LLC increased its holdings in shares of Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. Finally, Quarry LP raised its stake in shares of Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the last quarter. 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 (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.