Kite Realty Group Trust (KRG) Receives $26.00 Consensus Price Target from Analysts

Kite Realty Group Trust (NYSE:KRG) has been assigned an average recommendation of “Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp restated a “hold” rating on shares of Kite Realty Group Trust in a research report on Friday, August 25th. Finally, Robert W. Baird restated a “buy” rating and set a $23.00 price target on shares of Kite Realty Group Trust in a research report on Thursday, August 24th.

Large investors have recently bought and sold shares of the business. Glen Harbor Capital Management LLC boosted its holdings in Kite Realty Group Trust by 18.6% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,648 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 728 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Kite Realty Group Trust by 11.5% in the 2nd quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 557 shares during the last quarter. Elkfork Partners LLC boosted its holdings in Kite Realty Group Trust by 18.6% in the 1st quarter. Elkfork Partners LLC now owns 5,644 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 884 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Kite Realty Group Trust by 30.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,425 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in Kite Realty Group Trust by 64.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,627 shares during the last quarter. Institutional investors own 95.81% of the company’s stock.

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Shares of Kite Realty Group Trust (NYSE KRG) traded down 0.73% during mid-day trading on Friday, hitting $20.39. 638,953 shares of the stock traded hands. The firm has a 50 day moving average of $20.39 and a 200 day moving average of $20.09. The company has a market cap of $1.70 billion, a P/E ratio of 145.64 and a beta of 0.57. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $28.95.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $92.65 million for the quarter, compared to analyst estimates of $88.42 million. Kite Realty Group Trust had a net margin of 3.29% and a return on equity of 0.73%. Kite Realty Group Trust’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Equities analysts anticipate that Kite Realty Group Trust will post ($0.05) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, October 6th will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.21 annualized dividend and a yield of 5.93%. Kite Realty Group Trust’s payout ratio is 864.29%.

Kite Realty Group Trust Company Profile

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.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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