Kite Realty Group Trust (NYSE:KRG) Price Target Raised to $31.00 at KeyCorp

Kite Realty Group Trust (NYSE:KRG - Free Report) had its price target upped by KeyCorp from $28.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the real estate investment trust's stock.

Several other equities research analysts have also recently weighed in on the stock. Raymond James raised shares of Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target for the company in a research report on Friday, August 16th. Robert W. Baird raised their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point raised their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, Piper Sandler lifted 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 report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kite Realty Group Trust has an average rating of "Moderate Buy" and a consensus target price of $28.43.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock traded down $0.20 during mid-day trading on Tuesday, reaching $27.25. 1,001,584 shares of the company's stock traded hands, compared to its average volume of 1,600,995. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.94. The company has a market cap of $5.99 billion, a price-to-earnings ratio of -685.50, a PEG ratio of 4.19 and a beta of 1.29. The stock has a 50 day moving average of $26.21 and a two-hundred day moving average of $24.03. 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 announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.26. Kite Realty Group Trust's payout ratio is presently -2,600.00%.

Insider Activity at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Kite Realty Group Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Land & Buildings Investment Management LLC acquired a new position in shares of Kite Realty Group Trust in the 2nd quarter valued at about $22,277,000. Vanguard Group Inc. lifted its position in shares of Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust's stock worth $728,391,000 after purchasing an additional 881,502 shares in the last quarter. APG Asset Management US Inc. purchased a new position in shares of Kite Realty Group Trust in the second quarter valued at $16,665,000. F M Investments LLC acquired a new stake in Kite Realty Group Trust during the 2nd quarter valued at $10,164,000. Finally, Lighthouse Investment Partners LLC lifted its holdings in Kite Realty Group Trust by 157.9% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust's stock worth $16,449,000 after buying an additional 450,000 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.