Kite Realty Group Trust (NYSE:KRG) Reaches New 12-Month High – What’s Next?

Kite Realty Group Trust (NYSE:KRG) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $24.56 and last traded at $24.5260, with a volume of 417649 shares trading hands. The stock had previously closed at $24.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KRG shares. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. UBS Group reissued a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and a consensus price target of $25.43.

Kite Realty Group Trust Stock Up 1.3%

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. The business has a 50-day simple moving average of $23.45 and a 200-day simple moving average of $22.70. The stock has a market cap of $5.31 billion, a P/E ratio of 38.32, a PEG ratio of 5.96 and a beta of 0.91.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 9th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s dividend payout ratio (DPR) is 181.25%.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in shares of Kite Realty Group Trust by 61.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,396 shares of the real estate investment trust’s stock worth $1,975,000 after purchasing an additional 31,487 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Kite Realty Group Trust by 99.4% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 365,777 shares of the real estate investment trust’s stock valued at $8,768,000 after acquiring an additional 182,350 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Kite Realty Group Trust by 39.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 17,449 shares of the real estate investment trust’s stock worth $418,000 after acquiring an additional 4,974 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Kite Realty Group Trust by 2.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 170,677 shares of the real estate investment trust’s stock worth $4,064,000 after acquiring an additional 4,011 shares during the period. Finally, Composition Wealth LLC acquired a new position in Kite Realty Group Trust during the 4th quarter valued at $210,000. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.