Kite Realty Group Trust (NYSE:KRG) Price Target Lowered to $27.00 at JPMorgan Chase & Co.

Kite Realty Group Trust (NYSE:KRG - Free Report) had its target price cut by JPMorgan Chase & Co. from $30.00 to $27.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.

KRG has been the subject of several other reports. Robert W. Baird increased their price objective on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Jefferies Financial Group lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price target for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, KeyCorp boosted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Kite Realty Group Trust currently has a consensus rating of "Moderate Buy" and an average target price of $29.13.

Kite Realty Group Trust Stock Performance

Shares of KRG traded up $0.02 during trading hours on Wednesday, reaching $22.82. 1,423,199 shares of the company's stock traded hands, compared to its average volume of 1,747,229. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -570.50, a P/E/G ratio of 3.81 and a beta of 1.29. The business's fifty day simple moving average is $26.01 and its two-hundred day simple moving average is $25.44. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, January 10th will be given a $0.27 dividend. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, January 10th. Kite Realty Group Trust's dividend payout ratio (DPR) is -2,700.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its position in shares of Kite Realty Group Trust by 53.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 46,793 shares of the real estate investment trust's stock worth $1,181,000 after buying an additional 16,330 shares during the period. Oliver Luxxe Assets LLC grew its stake in Kite Realty Group Trust by 3.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 91,368 shares of the real estate investment trust's stock valued at $2,306,000 after acquiring an additional 3,268 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Kite Realty Group Trust by 19.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 7,390 shares of the real estate investment trust's stock valued at $187,000 after purchasing an additional 1,210 shares during the period. GAMMA Investing LLC increased its holdings in shares of Kite Realty Group Trust by 15.8% in the 4th quarter. GAMMA Investing LLC now owns 4,787 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 652 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 2,080 shares in the last quarter. Hedge funds and other institutional investors 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.