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

Shares of Kite Realty Group Trust (NYSE:KRG) have been given a consensus rating of “Hold” by the five brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.00.

KRG has been the topic of a number of recent analyst reports. StockNews.com upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Jefferies Financial Group upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, April 18th.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $21.40 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 97.28, a P/E/G ratio of 3.12 and a beta of 1.29. Kite Realty Group Trust has a fifty-two week low of $19.16 and a fifty-two week high of $24.26. The business’s 50 day moving average price is $21.02 and its 200-day moving average price is $21.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.76.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, April 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s payout ratio is 454.57%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its stake in Kite Realty Group Trust by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 63,100 shares of the real estate investment trust’s stock valued at $1,368,000 after buying an additional 1,500 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Kite Realty Group Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock worth $2,745,000 after purchasing an additional 649 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Kite Realty Group Trust by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 53,895 shares of the real estate investment trust’s stock worth $1,168,000 after purchasing an additional 1,300 shares in the last quarter. Pensionfund Sabic increased its holdings in shares of Kite Realty Group Trust by 26.2% in the 1st quarter. Pensionfund Sabic now owns 43,400 shares of the real estate investment trust’s stock worth $941,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Kite Realty Group Trust in the 1st quarter worth $524,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

About Kite Realty Group Trust

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.