Kite Realty Group Trust (NYSE:KRG) Receives $28.00 Consensus Target Price from Analysts

Kite Realty Group Trust (NYSE:KRG) has been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $28.00.

A number of brokerages have issued reports on KRG. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Friday, August 16th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Piper Sandler raised their price target on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd.

Kite Realty Group Trust Stock Performance

KRG opened at $26.33 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $5.78 billion, a PE ratio of 101.27, a price-to-earnings-growth ratio of 3.97 and a beta of 1.29. The stock has a 50-day moving average of $25.09 and a 200-day moving average of $22.69. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $27.15.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.26 per share. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.04 annualized dividend and a dividend yield of 3.95%. Kite Realty Group Trust’s payout ratio is presently 400.00%.

Insider Activity

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Trading of Kite Realty Group Trust

Several institutional investors have recently modified their holdings of KRG. Pineridge Advisors LLC acquired a new position in Kite Realty Group Trust in the fourth quarter worth about $39,000. Fidelis Capital Partners LLC bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $42,000. GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares in the last quarter. Quarry LP grew its position in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,167 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in Kite Realty Group Trust during the first quarter worth $52,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

About Kite Realty Group Trust

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.