Kite Realty Group Trust (NYSE:KRG) Sets New 1-Year Low - Should You Sell?

Kite Realty Group Trust (NYSE:KRG - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $19.28 and last traded at $19.40, with a volume of 3622577 shares traded. The stock had previously closed at $20.21.

Analysts Set New Price Targets

KRG has been the subject of several analyst reports. Raymond James lowered their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. cut their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and dropped their price objective for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Piper Sandler reiterated a "neutral" rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.88.

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Kite Realty Group Trust Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $4.50 billion, a P/E ratio of 1,023.40, a PEG ratio of 3.57 and a beta of 1.05. The company's fifty day simple moving average is $22.13 and its 200-day simple moving average is $24.38.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Research analysts predict that Kite Realty Group Trust will post 2.05 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 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust's payout ratio is 5,400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $91,335,000. Centersquare Investment Management LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $64,403,000. JPMorgan Chase & Co. raised its stake in shares of Kite Realty Group Trust by 23.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock worth $308,317,000 after acquiring an additional 2,308,613 shares in the last quarter. Aew Capital Management L P purchased a new stake in Kite Realty Group Trust during the fourth quarter valued at approximately $31,663,000. Finally, Invesco Ltd. boosted its stake in Kite Realty Group Trust by 36.5% in the fourth quarter. Invesco Ltd. now owns 2,972,981 shares of the real estate investment trust's stock valued at $75,038,000 after acquiring an additional 794,651 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

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.