Kite Realty Group Trust (NYSE:KRG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kite Realty Group Trust (NYSE:KRG) from a sell rating to a hold rating in a research report report published on Saturday morning.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group restated a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Robert W. Baird raised their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. UBS Group reiterated a “neutral” rating and set a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Finally, 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. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Hold” and an average price target of $25.63.

Kite Realty Group Trust Stock Performance

KRG opened at $26.24 on Friday. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $26.25. The firm has a market capitalization of $5.43 billion, a PE ratio of 19.01, a PEG ratio of 6.51 and a beta of 0.91. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $24.06 and its 200 day moving average price is $22.97.

Kite Realty Group Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, April 9th. Kite Realty Group Trust’s payout ratio is 84.06%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in KRG. Cohen & Steers Inc. raised its position in Kite Realty Group Trust by 26.3% in the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after purchasing an additional 5,486,116 shares during the period. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 1,250,549 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Kite Realty Group Trust by 1.3% in the 4th quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock valued at $197,436,000 after buying an additional 105,830 shares during the period. Bank of America Corp DE raised its holdings in shares of Kite Realty Group Trust by 6.9% in the 3rd quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock valued at $142,009,000 after buying an additional 411,465 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Kite Realty Group Trust by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after acquiring an additional 40,017 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.