Piper Sandler Boosts Kite Realty Group Trust (NYSE:KRG) Price Target to $33.00

Kite Realty Group Trust (NYSE:KRG) had its price target raised by Piper Sandler from $30.00 to $33.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on KRG. Robert W. Baird raised their price target 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. KeyCorp raised their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an overweight rating in a report on Tuesday, August 20th. Wells Fargo & Company raised shares of 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 research note on Wednesday, August 28th. Finally, Raymond James upgraded shares of 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 report on Friday, August 16th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $28.00.

Kite Realty Group Trust Trading Down 0.2 %

Shares of Kite Realty Group Trust stock opened at $25.88 on Tuesday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $26.33. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $24.13 and a 200-day moving average price of $22.26. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 99.54, a PEG ratio of 3.99 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.26 per share. This is a boost 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 4.02%. Kite Realty Group Trust’s dividend payout ratio is currently 400.00%.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Kite Realty Group Trust during the fourth quarter worth approximately $52,746,000. Land & Buildings Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust in the second quarter valued at approximately $22,277,000. Vanguard Group Inc. grew 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 purchasing an additional 881,502 shares in the last quarter. APG Asset Management US Inc. purchased a new position in Kite Realty Group Trust during the 2nd quarter worth $16,665,000. Finally, Balyasny Asset Management L.P. raised its position in Kite Realty Group Trust by 28.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after purchasing an additional 693,852 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.