Kite Realty Group Trust (NYSE:KRG) Receives $28.86 Average PT from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $28.86.

Several brokerages have recently weighed in on KRG. Compass Point raised their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Piper Sandler raised 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, September 3rd. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, KeyCorp increased their price target on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its stake 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 worth $28,000 after buying an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Kite Realty Group Trust in the third quarter valued at about $39,000. Strategic Investment Solutions Inc. IL purchased a new position in Kite Realty Group Trust in the third quarter worth about $45,000. Quarry LP grew its stake 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 valued at $50,000 after purchasing an additional 1,167 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Kite Realty Group Trust by 110.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,135 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 2,170 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Down 1.0 %

KRG stock opened at $25.05 on Wednesday. The business has a 50 day moving average of $26.50 and a 200 day moving average of $25.19. The firm has a market cap of $5.50 billion, a PE ratio of -626.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. 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 Increases Dividend

The business also recently declared 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 positive change 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 4.31%. 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.