Kite Realty Group Trust (KRG) Receives “Buy” Rating from Barclays

Barclays reaffirmed their buy rating on shares of Kite Realty Group Trust (NYSE:KRG) in a research report report published on Tuesday morning. The brokerage currently has a $19.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird reissued a buy rating and set a $19.00 target price on shares of Kite Realty Group Trust in a research note on Wednesday, March 21st. Sandler O’Neill set a $16.00 price objective on Kite Realty Group Trust and gave the company a hold rating in a research note on Tuesday, March 20th. Citigroup dropped 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 note on Tuesday, February 6th. Capital One Financial raised Kite Realty Group Trust from an equal weight rating to an overweight rating in a research note on Monday, February 5th. Finally, DA Davidson downgraded Kite Realty Group Trust from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.71.

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Shares of KRG stock opened at $15.06 on Tuesday. The company has a market cap of $1,243.13, a PE ratio of 7.38, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47. Kite Realty Group Trust has a 12-month low of $13.90 and a 12-month high of $22.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.09.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. equities research analysts expect that Kite Realty Group Trust will post 2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Friday, April 6th were paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 8.43%. The ex-dividend date of this dividend was Thursday, April 5th. Kite Realty Group Trust’s payout ratio is currently 62.25%.

In other news, Director Charles H. Wurtzebach acquired 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $14.65 per share, with a total value of $96,690.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director William E. Bindley acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average cost of $15.06 per share, with a total value of $1,506,000.00. Following the completion of the purchase, the director now directly owns 85,014 shares in the company, valued at $1,280,310.84. The disclosure for this purchase can be found here. Company insiders own 1.93% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Kite Realty Group Trust by 11.8% during the 4th quarter. BlackRock Inc. now owns 13,795,975 shares of the real estate investment trust’s stock valued at $270,402,000 after buying an additional 1,455,741 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Kite Realty Group Trust by 9.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,560,852 shares of the real estate investment trust’s stock valued at $50,376,000 after buying an additional 217,020 shares during the last quarter. American Century Companies Inc. grew its holdings in Kite Realty Group Trust by 13.7% during the 4th quarter. American Century Companies Inc. now owns 1,713,133 shares of the real estate investment trust’s stock valued at $33,577,000 after buying an additional 206,839 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Kite Realty Group Trust by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,620,011 shares of the real estate investment trust’s stock valued at $31,752,000 after buying an additional 27,535 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Kite Realty Group Trust by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,377,682 shares of the real estate investment trust’s stock valued at $27,001,000 after buying an additional 77,821 shares during the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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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.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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