Kite Realty Group Trust (NYSE:KRG) Given Average Rating of “Hold” by Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have been given an average rating of “Hold” by the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.00.

Several brokerages have issued reports on KRG. Piper Sandler upped their target price on Kite Realty Group Trust from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. StockNews.com raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd.

Institutional Investors Weigh In On Kite Realty Group Trust

Several large investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its position in Kite Realty Group Trust by 32.3% in the 1st quarter. Raymond James & Associates now owns 116,703 shares of the real estate investment trust’s stock valued at $2,657,000 after purchasing an additional 28,495 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Kite Realty Group Trust by 14.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 67,735 shares of the real estate investment trust’s stock worth $1,542,000 after buying an additional 8,554 shares during the period. PNC Financial Services Group Inc. lifted its stake in Kite Realty Group Trust by 18.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,700 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 1,067 shares during the last quarter. Natixis Advisors L.P. acquired a new position in Kite Realty Group Trust during the 1st quarter worth approximately $448,000. Finally, Bank of Montreal Can increased its position in shares of Kite Realty Group Trust by 16.8% in the 1st quarter. Bank of Montreal Can now owns 26,095 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 3,760 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Up 1.1 %

KRG stock opened at $21.68 on Monday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 98.55, a PEG ratio of 3.08 and a beta of 1.29. The firm has a 50-day moving average of $21.36 and a two-hundred day moving average of $21.52. Kite Realty Group Trust has a 12 month low of $19.16 and a 12 month high of $24.26. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, April 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. Kite Realty Group Trust’s dividend payout ratio is presently 454.57%.

Kite Realty Group Trust Company Profile

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.