Kite Realty Group Trust (KRG) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Kite Realty Group Trust (NYSE:KRG) from a sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “

KRG has been the subject of several other research reports. Citigroup reduced their target price on shares of Kite Realty Group Trust from $17.00 to $16.50 and set a neutral rating for the company in a report on Thursday, November 29th. ValuEngine raised shares of Kite Realty Group Trust from a sell rating to a hold rating in a report on Saturday, December 15th. Finally, Robert W. Baird downgraded shares of Kite Realty Group Trust from an outperform rating to a neutral rating and set a $17.00 target price for the company. in a report on Wednesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $16.70.

Shares of Kite Realty Group Trust stock traded up $0.05 during trading on Wednesday, hitting $15.50. 470,590 shares of the stock were exchanged, compared to its average volume of 614,736. The firm has a market capitalization of $1.29 billion, a PE ratio of 7.60, a P/E/G ratio of 2.12 and a beta of 0.66. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $18.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.89 and a quick ratio of 0.89.

The business also recently announced a quarterly dividend, which was paid on Friday, January 11th. Investors of record on Friday, January 4th were issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend was Thursday, January 3rd. Kite Realty Group Trust’s payout ratio is 62.25%.

In related news, CEO John A. Kite sold 12,000 shares of Kite Realty Group Trust stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $16.21, for a total transaction of $194,520.00. Following the completion of the sale, the chief executive officer now owns 47,088 shares of the company’s stock, valued at approximately $763,296.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Timbercreek Investment Management Inc. boosted its holdings in Kite Realty Group Trust by 0.7% in the 4th quarter. Timbercreek Investment Management Inc. now owns 325,661 shares of the real estate investment trust’s stock valued at $4,589,000 after purchasing an additional 2,300 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Kite Realty Group Trust by 1.7% during the 4th quarter. State of Alaska Department of Revenue now owns 54,962 shares of the real estate investment trust’s stock worth $772,000 after acquiring an additional 899 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Kite Realty Group Trust by 1.8% during the 3rd quarter. Teachers Advisors LLC now owns 171,433 shares of the real estate investment trust’s stock worth $2,854,000 after acquiring an additional 2,998 shares during the period. Vanguard Group Inc lifted its holdings in shares of Kite Realty Group Trust by 3.2% during the 3rd quarter. Vanguard Group Inc now owns 12,991,507 shares of the real estate investment trust’s stock worth $216,308,000 after acquiring an additional 408,882 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Kite Realty Group Trust by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,991,507 shares of the real estate investment trust’s stock worth $216,308,000 after acquiring an additional 408,882 shares during the period. 91.27% of the stock is owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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