Kite Realty Group Trust (NYSE:KRG) Given Average Rating of "Hold" by Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have been given a consensus recommendation of "Hold" by the nine brokerages that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $27.22.

Several equities analysts have weighed in on the company. Raymond James Financial cut their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group started coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price on the stock. Finally, Wells Fargo & Company dropped 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

A number of hedge funds have recently modified their holdings of KRG. Opal Wealth Advisors LLC bought a new position in Kite Realty Group Trust in the first quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new position in Kite Realty Group Trust in the first quarter valued at approximately $25,000. UMB Bank n.a. grew its stake in Kite Realty Group Trust by 103.0% in the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 1,323 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of Kite Realty Group Trust by 19.9% during the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares during the period. Finally, CX Institutional bought a new position in shares of Kite Realty Group Trust during the 1st quarter worth approximately $79,000. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $22.51 on Friday. The stock's fifty day moving average is $22.46 and its 200-day moving average is $22.52. The stock has a market capitalization of $4.95 billion, a PE ratio of 321.50, a PEG ratio of 5.74 and a beta of 1.09. Kite Realty Group Trust has a 52 week low of $18.52 and a 52 week high of $28.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.07 and a current ratio of 1.07.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results 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 for 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%. Equities research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, July 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.80%. Kite Realty Group Trust's payout ratio is presently 1,542.86%.

Kite Realty Group Trust Company Profile

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.

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