Kite Realty Group Trust (NYSE:KRG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have been given an average rating of "Moderate Buy" by the eight brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.88.

A number of research firms recently weighed in on KRG. Piper Sandler restated a "neutral" rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Wells Fargo & Company reduced their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. lowered their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James reduced their price objective on Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research note on Monday, March 10th.

Remove Ads

Institutional Trading of Kite Realty Group Trust

A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its position in Kite Realty Group Trust by 2.6% during the 3rd quarter. FMR LLC now owns 28,610 shares of the real estate investment trust's stock valued at $760,000 after purchasing an additional 737 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Kite Realty Group Trust by 11.3% during the third quarter. BNP Paribas Financial Markets now owns 53,782 shares of the real estate investment trust's stock valued at $1,428,000 after acquiring an additional 5,447 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kite Realty Group Trust by 432.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust's stock worth $36,150,000 after acquiring an additional 1,105,539 shares during the period. Captrust Financial Advisors boosted its holdings in Kite Realty Group Trust by 6.8% in the third quarter. Captrust Financial Advisors now owns 17,601 shares of the real estate investment trust's stock valued at $467,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Kite Realty Group Trust during the 3rd quarter valued at $969,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

KRG stock traded down $0.63 during midday trading on Friday, reaching $20.17. The company had a trading volume of 3,668,509 shares, compared to its average volume of 1,617,005. The firm has a 50-day moving average price of $22.58 and a 200-day moving average price of $24.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market capitalization of $4.43 billion, a P/E ratio of 1,008.50, a P/E/G ratio of 3.57 and a beta of 1.05. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. On average, research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders 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 5.35%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

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.