Kite Realty Group Trust (NYSE:KRG - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $26.45 and last traded at $26.42, with a volume of 512912 shares traded. The stock had previously closed at $26.03.
Analyst Upgrades and Downgrades
A number of research firms recently commented on KRG. Piper Sandler boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Raymond James raised 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 note on Friday, August 16th. Compass Point lifted their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, Robert W. Baird upped their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Moderate Buy" and a consensus target price of $28.00.
View Our Latest Report on KRG
Kite Realty Group Trust Stock Performance
The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 100.77, a price-to-earnings-growth ratio of 3.92 and a beta of 1.29. The firm's 50 day moving average is $24.49 and its 200-day moving average is $22.42. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08.
Kite Realty Group Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a $0.26 dividend. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.93%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 400.00%.
Institutional Investors Weigh In On Kite Realty Group Trust
Several hedge funds and other institutional investors have recently made changes to their positions in KRG. Sanctuary Advisors LLC acquired a new position in shares of Kite Realty Group Trust during the second quarter worth approximately $324,000. Quarry LP raised its stake in Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,167 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Kite Realty Group Trust by 34.0% in the 2nd 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. Creative Planning grew its position in Kite Realty Group Trust by 55.7% in the 2nd quarter. Creative Planning now owns 20,150 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 7,206 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Kite Realty Group Trust by 2.1% during the 2nd quarter. Algert Global LLC now owns 138,627 shares of the real estate investment trust's stock worth $3,102,000 after purchasing an additional 2,797 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.
About Kite Realty Group Trust
(
Get Free Report)
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.
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