Kite Realty Group Trust (NYSE:KRG) Given Consensus Rating of “Hold” by Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.4286.

KRG has been the subject of a number of recent analyst reports. UBS Group reissued a “neutral” rating and issued a $25.00 target price (up previously from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st.

Kite Realty Group Trust Trading Up 2.3%

NYSE KRG opened at $24.18 on Thursday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 37.78, a P/E/G ratio of 5.96 and a beta of 0.91. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $24.50. The firm has a 50-day moving average price of $23.45 and a 200 day moving average price of $22.70. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 9th were issued a dividend of $0.29 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, January 9th. Kite Realty Group Trust’s payout ratio is presently 181.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of Kite Realty Group Trust in the third quarter worth $516,000. Capital Fund Management S.A. bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth about $1,882,000. AlphaQuest LLC raised its stake in shares of Kite Realty Group Trust by 227.5% in the 3rd quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust’s stock valued at $1,403,000 after purchasing an additional 43,716 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Kite Realty Group Trust during the third quarter worth about $4,372,000. Finally, Geode Capital Management LLC grew its stake in Kite Realty Group Trust by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after purchasing 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.