Kite Realty Group Trust (NYSE:KRG) Receives Average Rating of “Moderate Buy” from Analysts

Kite Realty Group Trust (NYSE:KRG) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $27.63.

Several research analysts recently commented on the company. Raymond James reduced their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, May 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new position in Kite Realty Group Trust during the fourth quarter worth $1,180,000. Charles Schwab Investment Management Inc. increased its stake in shares of Kite Realty Group Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust’s stock valued at $94,039,000 after buying an additional 73,926 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $19,632,000. New York State Common Retirement Fund increased its stake in shares of Kite Realty Group Trust by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust’s stock valued at $2,741,000 after buying an additional 17,015 shares in the last quarter. Finally, Aew Capital Management L P acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $31,663,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Down 0.4%

KRG opened at $21.85 on Friday. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 1,092.50, a P/E/G ratio of 3.57 and a beta of 1.10. The business has a 50 day moving average of $21.78 and a 200-day moving average of $23.46.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $221.76 million during the quarter, compared to analysts’ expectations of $211.07 million. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. As a group, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 annualized dividend and a yield of 4.94%. Kite Realty Group Trust’s dividend payout ratio is currently 1,542.86%.

Kite Realty Group Trust Company Profile

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.