Kite Realty Group Trust (NYSE:KRG) Receives $19.75 Consensus Price Target from Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have received a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.75.

Several analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. Raymond James increased their price objective on shares of Kite Realty Group Trust from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, June 17th. Finally, Zacks Investment Research downgraded shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Thursday.

Several institutional investors have recently added to or reduced their stakes in KRG. Certified Advisory Corp bought a new position in Kite Realty Group Trust during the first quarter worth $77,000. The PNC Financial Services Group Inc. lifted its stake in Kite Realty Group Trust by 14.2% during the first quarter. The PNC Financial Services Group Inc. now owns 4,733 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 590 shares during the last quarter. Schroder Investment Management Group bought a new position in Kite Realty Group Trust during the first quarter worth $108,000. Acadian Asset Management LLC lifted its stake in Kite Realty Group Trust by 373.3% during the first quarter. Acadian Asset Management LLC now owns 7,752 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 6,114 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its stake in Kite Realty Group Trust by 15.0% during the first quarter. Point72 Hong Kong Ltd now owns 8,307 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 1,083 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

KRG traded down $0.66 on Friday, reaching $19.18. 41,587 shares of the company’s stock were exchanged, compared to its average volume of 610,784. The company’s 50 day simple moving average is $21.43. The company has a market capitalization of $1.62 billion, a P/E ratio of 198.42, a price-to-earnings-growth ratio of 4.01 and a beta of 1.49. Kite Realty Group Trust has a twelve month low of $9.27 and a twelve month high of $23.14. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 1.07.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Kite Realty Group Trust had a net margin of 3.17% and a return on equity of 0.68%. As a group, equities research analysts forecast that Kite Realty Group Trust will post 1.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 16th. Stockholders of record on Friday, July 9th were paid a dividend of $0.18 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Thursday, July 8th. Kite Realty Group Trust’s dividend payout ratio is 55.81%.

Kite Realty Group Trust Company Profile

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 retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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

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