KeyCorp Boosts Kite Realty Group Trust (NYSE:KRG) Price Target to $28.00

Kite Realty Group Trust (NYSE:KRG) had its price target hoisted by KeyCorp from $25.00 to $28.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the stock. Robert W. Baird boosted their price objective 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. Raymond James upgraded Kite Realty Group Trust from a market perform rating to a strong-buy rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Finally, Wells Fargo & Company increased their price target on Kite Realty Group Trust from $22.00 to $23.00 and gave the company an underweight rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Kite Realty Group Trust presently has an average rating of Moderate Buy and a consensus target price of $26.33.

Kite Realty Group Trust Stock Down 0.3 %

NYSE:KRG opened at $25.28 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.72. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $25.56. The firm’s 50 day simple moving average is $23.40 and its 200 day simple moving average is $21.98. The company has a market cap of $5.55 billion, a PE ratio of 97.23, a P/E/G ratio of 6.25 and a beta of 1.31.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 4.11%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings 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 purchasing an additional 881,502 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kite Realty Group Trust by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after acquiring an additional 90,897 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after acquiring an additional 190,380 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after acquiring an additional 693,852 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Kite Realty Group Trust by 17.7% in the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after purchasing an additional 386,566 shares during the period. 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.