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

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.13.

KRG has been the subject of a number of research reports. KeyCorp boosted their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird lifted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price target for the company from $31.00 to $27.00 in a report on Thursday, January 2nd.

Kite Realty Group Trust Stock Down 3.1 %

Shares of NYSE KRG opened at $22.96 on Thursday. The stock has a market capitalization of $5.04 billion, a PE ratio of -574.00, a P/E/G ratio of 3.63 and a beta of 1.27. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average of $24.44 and a 200-day moving average of $25.49. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. On average, analysts anticipate that Kite Realty Group Trust will post 2.06 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.70%. Kite Realty Group Trust’s dividend payout ratio is currently -2,700.00%.

Institutional Trading of Kite Realty Group Trust

Large investors have recently modified their holdings of the business. Eagle Asset Management Inc. acquired a new position in shares of Kite Realty Group Trust in the third quarter worth about $7,486,000. Cerity Partners LLC raised its position in shares of Kite Realty Group Trust by 105.1% in the 3rd quarter. Cerity Partners LLC now owns 48,150 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 24,679 shares in the last quarter. Versor Investments LP purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at approximately $537,000. Quest Partners LLC purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter valued at approximately $631,000. Finally, Vanderbilt University grew its position in shares of Kite Realty Group Trust by 115.2% during the fourth quarter. Vanderbilt University now owns 32,411 shares of the real estate investment trust’s stock worth $818,000 after buying an additional 17,348 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.