Media headlines about Kite Realty Group Trust (NYSE:KRG) have been trending somewhat positive recently, according to Alpha One Sentiment. The research group, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Kite Realty Group Trust earned a coverage optimism score of 0.17 on Alpha One’s scale. Alpha One also gave news headlines about the real estate investment trust an impact score of 39 out of 100, indicating that recent press coverage is unlikely to have an impact on the company’s share price in the next several days.
A number of analysts recently issued reports on KRG shares. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Robert W. Baird upgraded Kite Realty Group Trust from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $27.00 to $24.00 in a research report on Monday, March 13th. Barclays PLC reduced their target price on Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Finally, ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Kite Realty Group Trust has a consensus rating of “Buy” and a consensus price target of $28.43.
Kite Realty Group Trust (NYSE:KRG) traded down 2.76% during midday trading on Monday, hitting $18.30. The stock had a trading volume of 634,716 shares. Kite Realty Group Trust has a 1-year low of $17.74 and a 1-year high of $30.45. The company’s market capitalization is $1.53 billion. The stock’s 50-day moving average is $19.03 and its 200-day moving average is $21.80.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The company had revenue of $90.10 million during the quarter, compared to the consensus estimate of $88.31 million. Kite Realty Group Trust had a net margin of 0.05% and a return on equity of 0.01%. Kite Realty Group Trust’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities research analysts forecast that Kite Realty Group Trust will post ($0.05) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Thursday, July 6th will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $1.21 dividend on an annualized basis and a yield of 6.61%.
In other news, CEO John A. Kite sold 25,000 shares of the stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $21.51, for a total value of $537,750.00. Following the completion of the sale, the chief executive officer now owns 47,580 shares of the company’s stock, valued at approximately $1,023,445.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.87% of the stock is currently owned by corporate insiders.
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About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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