Kite Realty Group Trust (NYSE:KRG) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Kite Realty Group Trust (NYSE:KRG) from a buy rating to a hold rating in a report released on Thursday, MarketBeat Ratings reports. Jefferies Financial Group currently has $27.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $31.00.

Several other research analysts also recently commented on the stock. Robert W. Baird lifted their target price on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. KeyCorp lifted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Compass Point increased their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.43.

Kite Realty Group Trust Trading Up 1.3 %

Shares of KRG stock opened at $25.05 on Thursday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company has a market cap of $5.50 billion, a PE ratio of -626.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28. 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 business’s 50 day moving average is $26.38 and its two-hundred day moving average is $25.32.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, January 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.31%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, January 10th. Kite Realty Group Trust’s payout ratio is currently -2,700.00%.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after acquiring an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Kite Realty Group Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after purchasing an additional 173,290 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after purchasing an additional 190,380 shares in the last quarter. Millennium Management LLC boosted its holdings in Kite Realty Group Trust by 17.7% during the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after purchasing an additional 386,566 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Kite Realty Group Trust by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock valued at $46,566,000 after purchasing an additional 295,708 shares during the period. Institutional investors own 90.81% of the company’s stock.

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.