Kite Realty Group Trust (NYSE:KRG) Reaches New 52-Week High at $27.13

Kite Realty Group Trust (NYSE:KRG - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.13 and last traded at $26.88, with a volume of 548383 shares. The stock had previously closed at $26.70.

Analysts Set New Price Targets

Several research firms have commented on KRG. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised shares of Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and increased 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 on the stock in a research note on Friday, August 16th. Compass Point raised their price objective on 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. Finally, KeyCorp lifted their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Kite Realty Group Trust Stock Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $5.87 billion, a PE ratio of 102.73, a P/E/G ratio of 3.97 and a beta of 1.29. The firm has a fifty day moving average price of $24.86 and a two-hundred day moving average price of $22.58.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.89%. The ex-dividend date is Wednesday, October 9th. This is an increase from Kite Realty Group Trust's previous quarterly dividend of $0.25. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 400.00%.

Insider Activity at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company's stock, valued at $19,624,353.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth $52,746,000. Ontario Teachers Pension Plan Board increased its position in Kite Realty Group Trust by 355.5% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 98,011 shares of the real estate investment trust's stock valued at $2,241,000 after purchasing an additional 76,492 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Kite Realty Group Trust by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,040 shares of the real estate investment trust's stock valued at $5,990,000 after purchasing an additional 1,400 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Kite Realty Group Trust by 28.2% during the fourth quarter. Hsbc Holdings PLC now owns 136,246 shares of the real estate investment trust's stock worth $3,118,000 after buying an additional 29,983 shares during the period. Finally, Evoke Wealth LLC bought a new stake in Kite Realty Group Trust during the 4th quarter valued at $501,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

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