Kite Realty Group Trust (NYSE:KRG) Given Consensus Recommendation of “Buy” by Brokerages

Kite Realty Group Trust (NYSE:KRG) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $18.00.

KRG has been the subject of several analyst reports. Raymond James upped their target price on Kite Realty Group Trust from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, June 17th. KeyCorp upped their target price on Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, May 6th.

A number of large investors have recently bought and sold shares of the business. The PNC Financial Services Group Inc. boosted its stake in Kite Realty Group Trust by 14.2% during the 1st quarter. The PNC Financial Services Group Inc. now owns 4,733 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 590 shares during the last quarter. Presima Inc. boosted its stake in Kite Realty Group Trust by 1.2% during the 1st quarter. Presima Inc. now owns 50,600 shares of the real estate investment trust’s stock valued at $976,000 after acquiring an additional 600 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Kite Realty Group Trust by 2.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 34,648 shares of the real estate investment trust’s stock valued at $668,000 after acquiring an additional 700 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Kite Realty Group Trust by 7.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 11,257 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 781 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Kite Realty Group Trust by 33.2% during the 4th quarter. Van ECK Associates Corp now owns 3,337 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 832 shares during the last quarter. 96.14% of the stock is owned by institutional investors.

Shares of NYSE:KRG opened at $22.06 on Tuesday. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 1.07. Kite Realty Group Trust has a 1 year low of $9.27 and a 1 year high of $23.14. The stock has a market cap of $1.86 billion, a PE ratio of 220.62, a P/E/G ratio of 4.68 and a beta of 1.48. The business’s 50-day moving average price is $21.08.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, April 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Kite Realty Group Trust had a return on equity of 0.68% and a net margin of 3.17%. Research analysts expect that Kite Realty Group Trust will post 1.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Shareholders of record on Friday, July 9th will be given a $0.18 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, July 8th. Kite Realty Group Trust’s dividend payout ratio is presently 52.71%.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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

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