Brokerages Set Kite Realty Group Trust (NYSE:KRG) Target Price at $28.13

Shares of Kite Realty Group Trust (NYSE:KRG) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.13.

A number of analysts have recently issued reports on KRG shares. Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Raymond James lowered their target price on Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday. Jefferies Financial Group cut Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. reduced their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $21.91 on Monday. The stock has a market capitalization of $4.81 billion, a P/E ratio of 1,095.50, a P/E/G ratio of 3.57 and a beta of 1.30. The company’s fifty day moving average price is $23.05 and its 200 day moving average price is $25.15. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.93%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 5,400.00%.

Institutional Trading of Kite Realty Group Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Kite Realty Group Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc boosted its stake in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares during the period. Optiver Holding B.V. grew its holdings in shares of Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 467 shares during the last quarter. FIL Ltd increased its position in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 579 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in Kite Realty Group Trust during the 4th quarter valued at approximately $101,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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.