Kite Realty Group Trust (NYSE:KRG) Receives “Neutral” Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Kite Realty Group Trust (NYSE:KRG) in a research report sent to investors on Thursday, MarketBeat reports. Piper Sandler currently has a $25.00 price target on the real estate investment trust’s stock, down from their previous price target of $33.00.

Several other research firms also recently commented on KRG. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. KeyCorp increased 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. JPMorgan Chase & Co. cut their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Robert W. Baird boosted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.13.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $23.32 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -582.88, a PEG ratio of 3.63 and a beta of 1.27. The business’s fifty day moving average price is $24.36 and its 200-day moving average price is $25.47.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative net margin of 1.18% and a negative return on equity of 0.28%. On average, equities analysts predict that Kite Realty Group Trust will post 2.06 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.63%. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL bought a new position in Kite Realty Group Trust during the 3rd quarter valued at about $45,000. Versant Capital Management Inc grew its stake 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 buying an additional 2,080 shares during the last quarter. FIL Ltd boosted its holdings in Kite Realty Group Trust by 19.8% during the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 579 shares during the period. Finally, Spectrum Wealth Counsel LLC bought a new position in Kite Realty Group Trust in the 4th quarter valued at $101,000. 90.81% of the stock is owned by institutional investors.

About Kite Realty Group Trust

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.