Kite Realty Group Trust (NYSE:KRG) has been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong 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.

Several research analysts have recently commented on KRG shares. Zacks Investment Research raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Friday, July 21st. Robert W. Baird reissued a “buy” rating and issued a $23.00 price target on shares of Kite Realty Group Trust in a research report on Thursday, August 24th. BidaskClub raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Friday. Finally, KeyCorp reissued a “hold” rating on shares of Kite Realty Group Trust in a research report on Friday, August 25th.

Kite Realty Group Trust (NYSE:KRG) traded down 1.67% during midday trading on Wednesday, hitting $19.98. The stock had a trading volume of 478,119 shares. The stock has a market cap of $1.67 billion, a PE ratio of 142.71 and a beta of 0.57. Kite Realty Group Trust has a 52-week low of $17.60 and a 52-week high of $26.68. The company’s 50 day moving average price is $20.23 and its 200-day moving average price is $19.93.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The firm had revenue of $92.65 million during the quarter, compared to analyst estimates of $88.42 million. Kite Realty Group Trust had a return on equity of 0.73% and a net margin of 3.29%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. Analysts forecast that Kite Realty Group Trust will post ($0.05) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, October 6th will be given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 6.06%. The ex-dividend date is Thursday, October 5th. Kite Realty Group Trust’s payout ratio is 864.29%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRG. Russell Investments Group Ltd. grew its stake in Kite Realty Group Trust by 597.9% during the 1st quarter. Russell Investments Group Ltd. now owns 117,861 shares of the real estate investment trust’s stock worth $2,534,000 after buying an additional 100,972 shares during the last quarter. Wells Fargo & Company MN grew its stake in Kite Realty Group Trust by 7.7% during the 1st quarter. Wells Fargo & Company MN now owns 62,806 shares of the real estate investment trust’s stock worth $1,350,000 after buying an additional 4,466 shares during the last quarter. Swiss National Bank grew its stake in Kite Realty Group Trust by 1.7% during the 1st quarter. Swiss National Bank now owns 137,200 shares of the real estate investment trust’s stock worth $2,950,000 after buying an additional 2,300 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in Kite Realty Group Trust by 24.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 158,249 shares of the real estate investment trust’s stock worth $3,402,000 after buying an additional 31,438 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Kite Realty Group Trust during the 1st quarter worth $480,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

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About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

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

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