Kite Realty Group Trust (NYSE:KRG) Receives $28.13 Consensus PT from Analysts

Kite Realty Group Trust (NYSE:KRG) has been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $28.13.

A number of research firms recently commented on KRG. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Raymond James dropped their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. Finally, Jefferies Financial Group downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRG. Wilmington Savings Fund Society FSB purchased a new position in Kite Realty Group Trust during the third quarter valued at approximately $39,000. Versant Capital Management Inc grew its position in Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares in the last quarter. Optiver Holding B.V. grew its position in Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 467 shares in the last quarter. FIL Ltd grew its position in Kite Realty Group Trust by 19.8% during the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 579 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC purchased a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $101,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Up 2.6 %

KRG stock opened at $21.78 on Monday. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 1,089.20, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30. The firm’s 50-day moving average is $22.92 and its two-hundred day moving average is $25.08. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. On average, analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is presently 5,400.00%.

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.