Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $28.00

Kite Realty Group Trust (NYSE:KRG) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.00.

Several brokerages have commented on KRG. Compass Point upped their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Raymond James upgraded 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 report on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Piper Sandler upped their target price 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, September 3rd. Finally, Robert W. Baird increased their target price on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. UMB Bank n.a. raised its holdings in shares of Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at approximately $42,000. GAMMA Investing LLC lifted its position 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 buying an additional 1,204 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $45,000. Finally, Quarry LP increased its holdings in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,167 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Up 1.2 %

Shares of NYSE:KRG opened at $27.45 on Tuesday. The company has a 50 day moving average of $26.18 and a 200-day moving average of $23.97. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $27.94. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -686.25, a P/E/G ratio of 4.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s payout ratio is currently -2,600.00%.

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.