Kite Realty Group Trust (NYSE:KRG) Receives $29.13 Average Target Price from Brokerages

Kite Realty Group Trust (NYSE:KRG) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $29.13.

Several brokerages have recently weighed in on KRG. Robert W. Baird upped their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. KeyCorp upped their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a report on Thursday, January 2nd.

Kite Realty Group Trust Trading Up 1.0 %

NYSE:KRG opened at $23.54 on Friday. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -588.55, a PEG ratio of 3.28 and a beta of 1.29. The business has a fifty day moving average of $25.69 and a 200-day moving average of $25.47. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.43). Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. The business had revenue of $207.25 million during the quarter, compared to the consensus estimate of $210.39 million. During the same period in the previous year, the company posted $0.51 EPS. Equities analysts predict that Kite Realty Group Trust will post 2.07 earnings per share for the current year.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, January 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.59%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, January 10th. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in Kite Realty Group Trust by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after acquiring an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Kite Realty Group Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after acquiring an additional 173,290 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after acquiring an additional 190,380 shares in the last quarter. Millennium Management LLC lifted its stake in Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after acquiring an additional 386,566 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after acquiring an additional 673,976 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.