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

Kite Realty Group Trust (NYSE:KRG) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat Ratings reports. Two equities research 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 objective among brokers that have issued a report on the stock in the last year is $28.86.

A number of equities analysts have recently issued reports on the company. Compass Point raised their price target on 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. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Robert W. Baird upped their price target on shares of 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. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, 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 for the company in a report on Friday, August 16th.

Insider Activity at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Kite Realty Group Trust by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after purchasing an additional 43,015 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 buying an additional 173,290 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kite Realty Group Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after buying an additional 190,380 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of 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 valued at $57,427,000 after acquiring an additional 386,566 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Kite Realty Group Trust by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock worth $48,955,000 after acquiring an additional 32,493 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 1.0 %

Shares of Kite Realty Group Trust stock opened at $27.57 on Friday. 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 has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -689.25, a price-to-earnings-growth ratio of 3.86 and a beta of 1.29. The company’s 50 day moving average is $26.51 and its 200 day moving average is $24.58.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a $0.27 dividend. The ex-dividend date 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 dividend yield of 3.92%. Kite Realty Group Trust’s dividend payout ratio is -2,600.00%.

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.