Kite Realty Group Trust (NYSE:KRG) Receives $29.13 Consensus PT from Brokerages

Kite Realty Group Trust (NYSE:KRG) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $29.13.

Several equities research analysts have recently issued reports on KRG shares. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. Robert W. Baird lifted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th.

Institutional Trading of Kite Realty Group Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Kite Realty Group Trust in the 3rd quarter valued at $39,000. Strategic Investment Solutions Inc. IL bought a new stake in Kite Realty Group Trust in the third quarter valued at $45,000. Quarry LP raised its stake in Kite Realty Group Trust by 108.4% during the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,080 shares during the period. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 0.7 %

KRG opened at $23.81 on Friday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.08 and a current ratio of 3.08. The business has a 50 day moving average price of $25.41 and a 200 day moving average price of $25.48. The firm has a market cap of $5.23 billion, a P/E ratio of -595.23, a price-to-earnings-growth ratio of 3.57 and a beta of 1.29.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.43). Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. The firm had revenue of $207.25 million for the quarter, compared to the consensus estimate of $210.39 million. During the same period in the prior year, the company posted $0.51 earnings per share. Research analysts forecast that Kite Realty Group Trust will post 2.07 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, January 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.54%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, January 10th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -2,700.00%.

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.