Kite Realty Group Trust (NYSE:KRG) Receives $25.63 Consensus Target Price from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $26.00.

KRG has been the subject of a number of research reports. Weiss Ratings raised shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Robert W. Baird increased their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Finally, UBS Group reissued a “neutral” rating and issued a $25.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Cohen & Steers Inc. lifted its position in shares of Kite Realty Group Trust by 26.3% during the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after acquiring an additional 5,486,116 shares in the last quarter. Norges Bank bought a new stake in shares of Kite Realty Group Trust during the 2nd quarter valued at $65,504,000. Lasalle Investment Management Securities LLC raised its stake in shares of Kite Realty Group Trust by 177.3% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock valued at $62,779,000 after purchasing an additional 1,799,866 shares during the period. Deutsche Bank AG lifted its holdings in Kite Realty Group Trust by 434.7% during the 4th quarter. Deutsche Bank AG now owns 1,719,375 shares of the real estate investment trust’s stock worth $41,213,000 after purchasing an additional 1,397,837 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Kite Realty Group Trust by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after purchasing an additional 1,250,549 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Down 0.2%

Shares of NYSE:KRG opened at $26.02 on Monday. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $26.31. The company has a market capitalization of $5.38 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 6.54 and a beta of 0.86. The business has a fifty day moving average price of $24.25 and a two-hundred day moving average price of $23.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.74.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be paid a $0.29 dividend. The ex-dividend date is Thursday, April 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 84.06%.

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.