Brokerages Set Kite Realty Group Trust (NYSE:KRG) PT at $28.00

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $28.00.

Several research firms have recently weighed in on KRG. Raymond James upgraded shares of Kite Realty Group Trust from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price for the company in a research note on Friday, August 16th. Robert W. Baird lifted their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised Kite Realty Group Trust from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. KeyCorp raised their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 20th. Finally, Piper Sandler boosted 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.

Kite Realty Group Trust Stock Up 1.4 %

Kite Realty Group Trust stock traded up $0.36 during trading on Tuesday, hitting $26.87. 1,821,676 shares of the company were exchanged, compared to its average volume of 1,594,278. The business's 50 day moving average is $26.11 and its 200 day moving average is $23.87. The company has a market capitalization of $5.90 billion, a P/E ratio of -671.75, a PEG ratio of 3.93 and a beta of 1.29. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $27.15.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. This is a boost from Kite Realty Group Trust's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.02%. Kite Realty Group Trust's payout ratio is -2,600.00%.

Insider Activity at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the 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 in the company, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Institutional Trading of Kite Realty Group Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Land & Buildings Investment Management LLC acquired a new stake in shares of Kite Realty Group Trust in the second quarter worth approximately $22,277,000. Vanguard Group Inc. lifted its stake in Kite Realty Group Trust by 2.7% in the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust's stock worth $728,391,000 after acquiring an additional 881,502 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in Kite Realty Group Trust in the second quarter valued at $16,665,000. F M Investments LLC purchased a new position in Kite Realty Group Trust in the second quarter valued at approximately $10,164,000. Finally, Lighthouse Investment Partners LLC increased its position in Kite Realty Group Trust by 157.9% during the second quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust's stock worth $16,449,000 after buying an additional 450,000 shares during the period. Institutional investors and hedge funds 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.