Kite Realty Group Trust (NYSE:KRG) Receives $29.13 Average PT from Brokerages

Kite Realty Group Trust (NYSE:KRG - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $28.13.

KRG has been the subject of several analyst reports. Robert W. Baird upped their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. JPMorgan Chase & Co. cut their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company cut their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday. Finally, KeyCorp upped 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.

Kite Realty Group Trust Stock Down 3.6 %

Shares of KRG stock traded down $0.85 on Thursday, hitting $22.40. The stock had a trading volume of 3,816,868 shares, compared to its average volume of 1,896,697. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -559.88, a P/E/G ratio of 3.63 and a beta of 1.27. The stock's 50 day moving average is $24.20 and its 200-day moving average is $25.44. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. As a group, research analysts expect that Kite Realty Group Trust will post 2.06 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Wednesday, April 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 5,400.00%.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda acquired a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $225,000. Northern Trust Corp grew its holdings in Kite Realty Group Trust by 17.5% during the fourth quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust's stock valued at $91,466,000 after purchasing an additional 539,322 shares during the last quarter. Optiver Holding B.V. grew its holdings in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 467 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Kite Realty Group Trust by 39.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 28,712 shares of the real estate investment trust's stock worth $725,000 after acquiring an additional 8,135 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Kite Realty Group Trust by 16.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 732,691 shares of the real estate investment trust's stock worth $18,493,000 after acquiring an additional 103,485 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

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.