Kite Realty Group Trust (NYSE:KRG) Hits New 12-Month High – Still a Buy?

Kite Realty Group Trust (NYSE:KRG) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $26.33 and last traded at $26.3450, with a volume of 524954 shares traded. The stock had previously closed at $26.05.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Robert W. Baird lifted their price objective 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. UBS Group restated a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust has an average rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Trading Down 0.4%

The stock has a market cap of $5.36 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 6.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. The company has a 50 day moving average of $24.34 and a two-hundred day moving average of $23.17.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 84.06%.

Hedge Funds Weigh In On Kite Realty Group Trust

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Kite Realty Group Trust during the fourth quarter worth about $25,000. Arax Advisory Partners lifted its stake in Kite Realty Group Trust by 182.0% in the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 726 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Kite Realty Group Trust by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares during the last quarter. First Horizon Corp purchased a new stake in Kite Realty Group Trust during the 3rd quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC increased its stake in Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 740 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.