Analysts Set Kite Realty Group Trust (NYSE:KRG) Target Price at $27.22

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have received a consensus rating of "Hold" from the nine ratings firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $27.22.

Several brokerages have recently issued reports on KRG. Raymond James Financial decreased their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. Wall Street Zen cut Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group initiated coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Kite Realty Group Trust during the fourth quarter worth $91,335,000. Centersquare Investment Management LLC increased its stake in Kite Realty Group Trust by 133.6% in the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock valued at $133,327,000 after purchasing an additional 3,408,442 shares during the last quarter. Nuveen LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at $70,071,000. Long Pond Capital LP acquired a new position in Kite Realty Group Trust in the first quarter valued at $60,616,000. Finally, JPMorgan Chase & Co. grew its position in Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust's stock valued at $308,317,000 after acquiring an additional 2,308,613 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Up 0.8%

Kite Realty Group Trust stock traded up $0.18 during midday trading on Friday, reaching $22.35. 1,535,547 shares of the stock traded hands, compared to its average volume of 1,717,904. The company has a 50-day simple moving average of $22.47 and a two-hundred day simple moving average of $22.48. Kite Realty Group Trust has a 12-month low of $18.52 and a 12-month high of $28.24. The firm has a market cap of $4.91 billion, a PE ratio of 319.27, a price-to-earnings-growth ratio of 6.90 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $221.76 million during the quarter, compared to analysts' expectations of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. Research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.83%. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 1,542.86%.

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.