Kite Realty Group Trust (NYSE:KRG) Receives Average Rating of "Moderate Buy" from Analysts

Kite Realty Group Trust (NYSE:KRG - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $27.63.

Several brokerages recently weighed in on KRG. Wells Fargo & Company lowered their price objective on Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Wall Street Zen upgraded Kite Realty Group Trust from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Raymond James Financial lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd.

Kite Realty Group Trust Trading Up 0.4%

Kite Realty Group Trust stock traded up $0.09 during mid-day trading on Wednesday, hitting $22.70. The company's stock had a trading volume of 2,161,087 shares, compared to its average volume of 1,694,578. The firm has a market capitalization of $4.99 billion, a PE ratio of 324.21, a price-to-earnings-growth ratio of 5.78 and a beta of 1.11. Kite Realty Group Trust has a 1 year low of $18.52 and a 1 year high of $28.24. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89. The stock's fifty day moving average is $22.11 and its two-hundred day moving average is $22.85.

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

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is currently 1,542.86%.

Institutional Trading of Kite Realty Group Trust

Several hedge funds have recently modified their holdings of the stock. Anson Funds Management LP acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at $2,461,000. Strs Ohio acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at $20,517,000. Focus Partners Wealth raised its stake in shares of Kite Realty Group Trust by 1.8% in the first quarter. Focus Partners Wealth now owns 179,956 shares of the real estate investment trust's stock valued at $4,026,000 after acquiring an additional 3,212 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of Kite Realty Group Trust by 275.9% in the first quarter. Bayforest Capital Ltd now owns 10,118 shares of the real estate investment trust's stock valued at $226,000 after acquiring an additional 7,426 shares in the last quarter. Finally, Zimmer Partners LP acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at $1,957,000. 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.