Kite Realty Group Trust (NYSE:KRG) Given New $32.00 Price Target at Compass Point

Kite Realty Group Trust (NYSE:KRG) had its target price increased by Compass Point from $29.00 to $32.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

KRG has been the topic of several other research reports. Piper Sandler upped their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an overweight rating in a research note on Tuesday. Robert W. Baird increased their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. KeyCorp lifted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an overweight rating in a research report on Tuesday, August 20th. Raymond James raised Kite Realty Group Trust from a market perform rating to a strong-buy rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an underweight rating to an equal weight rating and lifted their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $28.00.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $25.92 on Wednesday. The business’s 50-day moving average is $24.04 and its 200-day moving average is $22.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 99.81, a P/E/G ratio of 3.99 and a beta of 1.31. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $26.33.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.01%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s payout ratio is presently 384.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pineridge Advisors LLC bought a new stake in Kite Realty Group Trust during the fourth quarter valued at about $39,000. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust during the 1st quarter valued at approximately $42,000. GAMMA Investing LLC grew its holdings in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares during the last quarter. Quarry LP increased its position in Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter worth approximately $52,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.