Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned a consensus recommendation of “Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.67.

KRG has been the topic of a number of research reports. Barclays PLC reduced their target price on shares of Kite Realty Group Trust from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. BidaskClub upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th. Finally, ValuEngine lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

Shares of Kite Realty Group Trust (NYSE:KRG) traded down 2.17% during midday trading on Tuesday, reaching $20.29. The company had a trading volume of 133,355 shares. Kite Realty Group Trust has a 12 month low of $17.60 and a 12 month high of $29.62. The firm’s 50 day moving average price is $19.73 and its 200-day moving average price is $20.56. The company has a market capitalization of $1.70 billion, a P/E ratio of 144.93 and a beta of 0.57.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, October 6th will be issued a $0.3025 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.21 annualized dividend and a yield of 5.83%. Kite Realty Group Trust’s dividend payout ratio is currently 864.29%.

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Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Kite Realty Group Trust by 9,657.3% in the first quarter. BlackRock Inc. now owns 12,336,774 shares of the real estate investment trust’s stock valued at $265,241,000 after buying an additional 12,210,338 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Kite Realty Group Trust by 415.9% in the first quarter. Principal Financial Group Inc. now owns 3,411,740 shares of the real estate investment trust’s stock valued at $73,352,000 after buying an additional 2,750,414 shares in the last quarter. Sorin Capital Management LLC acquired a new position in shares of Kite Realty Group Trust during the second quarter valued at $16,845,000. Macquarie Group Ltd. raised its position in shares of Kite Realty Group Trust by 51.5% in the second quarter. Macquarie Group Ltd. now owns 2,113,325 shares of the real estate investment trust’s stock valued at $40,006,000 after buying an additional 718,197 shares in the last quarter. Finally, Cambiar Investors LLC acquired a new position in shares of Kite Realty Group Trust during the second quarter valued at $13,282,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

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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