Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $28.86

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seven brokerages that are covering the stock, MarketBeat Ratings 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 price target among brokers that have issued ratings on the stock in the last year is $28.86.

Several research firms have issued reports on KRG. Wells Fargo & Company upgraded Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James upgraded Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 price objective for the company in a research report on Friday, August 16th. Compass Point boosted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd. Finally, KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG traded down $0.28 during midday trading on Friday, hitting $27.57. The stock had a trading volume of 941,815 shares, compared to its average volume of 1,587,164. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average price of $26.51 and a two-hundred day moving average price of $24.58. The company has a market capitalization of $6.06 billion, a PE ratio of -689.25, a P/E/G ratio of 3.86 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 3.92%. This is a boost 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 Buying and Selling at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm's stock in a transaction on 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 owns 732,252 shares of the company's stock, valued at approximately $19,624,353.60. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company's stock.

Institutional Trading of Kite Realty Group Trust

A number of large investors have recently made changes to their positions in KRG. Boston Partners acquired a new position in Kite Realty Group Trust in the 1st quarter valued at $752,000. Systematic Financial Management LP grew its position in shares of Kite Realty Group Trust by 34.0% in the second quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust's stock valued at $15,410,000 after purchasing an additional 174,797 shares during the period. Thrivent Financial for Lutherans increased its stake in Kite Realty Group Trust by 118.8% in the second quarter. Thrivent Financial for Lutherans now owns 124,384 shares of the real estate investment trust's stock valued at $2,784,000 after purchasing an additional 67,542 shares during the last quarter. Versor Investments LP purchased a new position in Kite Realty Group Trust during the third quarter worth about $537,000. Finally, Quest Partners LLC acquired a new stake in Kite Realty Group Trust in the 3rd quarter worth about $631,000. Institutional investors and hedge funds 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.