Kite Realty Group Trust (NYSE:KRG) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.86.

A number of research analysts have recently commented on the stock. Piper Sandler raised their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Compass Point upped their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Robert W. Baird raised their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Wells Fargo & Company upgraded Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, KeyCorp raised their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th.

Kite Realty Group Trust Stock Up 0.3 %

NYSE KRG traded up $0.08 during trading on Wednesday, hitting $25.29. 728,223 shares of the company traded hands, compared to its average volume of 1,593,553. The business has a fifty day simple moving average of $26.54 and a 200 day simple moving average of $25.19. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month 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 company has a market capitalization of $5.56 billion, a P/E ratio of -632.25, a PEG ratio of 3.81 and a beta of 1.28.

Kite Realty Group Trust Increases Dividend

The company also recently declared 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.27%. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust's payout ratio is -2,700.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust's stock valued at $50,684,000 after acquiring an additional 673,976 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth about $39,000. Sanctuary Advisors LLC boosted its holdings in shares of Kite Realty Group Trust by 60.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,451 shares of the real estate investment trust's stock worth $670,000 after buying an additional 9,201 shares during the period. Geode Capital Management LLC grew its stake in Kite Realty Group Trust by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust's stock valued at $150,865,000 after buying an additional 43,015 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Kite Realty Group Trust by 4.1% in the 3rd quarter. M&T Bank Corp now owns 36,824 shares of the real estate investment trust's stock valued at $978,000 after acquiring an additional 1,453 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.