Sandler O’Neill set a $16.00 price objective on Kite Realty Group Trust (NYSE:KRG) in a report released on Tuesday morning. The firm currently has a hold rating on the real estate investment trust’s stock.
Other equities analysts also recently issued reports about the company. Barclays reduced their price objective on Kite Realty Group Trust from $25.00 to $22.00 and set an overweight rating for the company in a research report on Tuesday, January 30th. Citigroup reduced their price objective on Kite Realty Group Trust from $20.50 to $16.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. ValuEngine downgraded Kite Realty Group Trust from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded Kite Realty Group Trust from a hold rating to a sell rating in a research report on Friday, December 8th. Finally, Raymond James Financial reiterated an outperform rating and set a $23.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Kite Realty Group Trust currently has an average rating of Hold and a consensus target price of $18.86.
Kite Realty Group Trust (KRG) opened at $14.85 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $1,227.24, a P/E ratio of 106.07, a PEG ratio of 1.73 and a beta of 0.50. Kite Realty Group Trust has a 52-week low of $13.90 and a 52-week high of $22.34.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $89.14 million. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. research analysts anticipate that Kite Realty Group Trust will post 2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, April 6th will be issued a dividend of $0.3175 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.27 annualized dividend and a yield of 8.55%. Kite Realty Group Trust’s payout ratio is 907.14%.
In other news, Director William E. Bindley bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $15.06 per share, with a total value of $1,506,000.00. Following the completion of the acquisition, the director now directly owns 85,014 shares in the company, valued at $1,280,310.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Wurtzebach bought 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $14.65 per share, for a total transaction of $96,690.00. The disclosure for this purchase can be found here. 1.87% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in Kite Realty Group Trust by 60.8% during the third quarter. Wells Fargo & Company MN now owns 104,504 shares of the real estate investment trust’s stock worth $2,115,000 after purchasing an additional 39,532 shares in the last quarter. Quantbot Technologies LP bought a new stake in Kite Realty Group Trust during the third quarter worth approximately $629,000. California Public Employees Retirement System raised its holdings in Kite Realty Group Trust by 9.7% during the third quarter. California Public Employees Retirement System now owns 229,717 shares of the real estate investment trust’s stock worth $4,652,000 after purchasing an additional 20,225 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Kite Realty Group Trust by 39.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 36,492 shares of the real estate investment trust’s stock worth $739,000 after purchasing an additional 10,264 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Kite Realty Group Trust by 39.4% during the third quarter. BNP Paribas Arbitrage SA now owns 73,247 shares of the real estate investment trust’s stock worth $1,483,000 after purchasing an additional 20,703 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
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About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.
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