UBS Group Issues Positive Forecast for Kite Realty Group Trust (NYSE:KRG) Stock Price

Kite Realty Group Trust (NYSE:KRG) had its price objective hoisted by UBS Group from $26.00 to $27.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on KRG. KeyCorp downgraded Kite Realty Group Trust from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. cut Kite Realty Group Trust from a “neutral” rating to an “underweight” rating and set a $27.00 target price for the company. in a report on Thursday, September 24th. Citigroup restated a “neutral” rating and set a $31.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a report on Monday, August 3rd. Piper Sandler restated a “neutral” rating and issued a $27.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research report on Monday, October 12th. Finally, Ladenburg Thalmann & Co. Inc. lifted their price objective on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.89.

Kite Realty Group Trust Stock Down 0.5%

NYSE KRG opened at $25.75 on Wednesday. The stock has a 50 day moving average price of $25.02 and a 200-day moving average price of $26.16. Kite Realty Group Trust has a one year low of $21.89 and a one year high of $29.92. The company has a market capitalization of $5.10 billion, a P/E ratio of 15.89, a P/E/G ratio of 4.69 and a beta of 0.90. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.92 and a current ratio of 0.92.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Friday, October 30th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). Kite Realty Group Trust had a net margin of 42.95% and a return on equity of 11.78%. The business had revenue of $190.28 million for the quarter, compared to the consensus estimate of $195.62 million. As a group, equities analysts predict that Kite Realty Group Trust will post 2.10 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Saturday, January 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, January 8th. Kite Realty Group Trust’s dividend payout ratio is 71.60%.

Institutional Trading of Kite Realty Group Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Kite Realty Group Trust in the 1st quarter worth about $1,785,000. Allianz Asset Management GmbH grew its stake in Kite Realty Group Trust by 36.0% in the second quarter. Allianz Asset Management GmbH now owns 226,170 shares of the real estate investment trust’s stock worth $6,419,000 after purchasing an additional 59,922 shares in the last quarter. Susquehanna International Group LLP grew its position in shares of Kite Realty Group Trust by 65.5% during the 2nd quarter. Susquehanna International Group LLP now owns 156,514 shares of the real estate investment trust’s stock worth $4,442,000 after buying an additional 61,948 shares in the last quarter. SummitTX Capital L.P. increased its stake in shares of Kite Realty Group Trust by 45.4% during the first quarter. SummitTX Capital L.P. now owns 355,188 shares of the real estate investment trust’s stock valued at $8,720,000 after buying an additional 110,852 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Kite Realty Group Trust during the second quarter valued at $5,065,000. 90.81% of the stock is currently owned by institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust that owns, operates, and develops open-air shopping centers and mixed-use properties. Its portfolio includes neighborhood and community centers, many of which are anchored by grocery stores and other essential retailers. The company leases space to retailers and service businesses and works to manage, maintain, and redevelop its properties. Its centers serve communities in Sun Belt markets and other selected regions across the United States.