Kite Realty Group Trust (NYSE:KRG) Hits New 1-Year High – Time to Buy?

Shares of Kite Realty Group Trust (NYSE:KRG) hit a new 52-week high on Monday . The company traded as high as $26.25 and last traded at $26.0030, with a volume of 70519 shares changing hands. The stock had previously closed at $25.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KRG shares. Weiss Ratings raised shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Jefferies Financial Group reissued a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Robert W. Baird upped their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Citigroup reiterated a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.00.

Kite Realty Group Trust Trading Down 0.8%

The business’s 50-day moving average price is $24.11 and its two-hundred day moving average price is $23.00. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 6.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.74.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, April 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 84.06%.

Hedge Funds Weigh In On Kite Realty Group Trust

Several large investors have recently added to or reduced their stakes in KRG. Cohen & Steers Inc. increased its stake in shares of Kite Realty Group Trust by 26.3% during the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after acquiring an additional 5,486,116 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Kite Realty Group Trust by 11.2% in the second quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock valued at $281,229,000 after purchasing an additional 1,250,549 shares during the period. Centersquare Investment Management LLC increased its position in Kite Realty Group Trust by 1.3% during the fourth quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock worth $197,436,000 after purchasing an additional 105,830 shares during the last quarter. Bank of America Corp DE raised its stake in Kite Realty Group Trust by 6.9% during the third quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock worth $142,009,000 after purchasing an additional 411,465 shares during the period. Finally, Geode Capital Management LLC raised its stake in Kite Realty Group Trust by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after purchasing an additional 40,017 shares during the period. 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 that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.