Kite Realty Group Trust (NYSE:KRG) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts give Kite Realty a consensus "Hold" rating (6 holds, 3 buys) with an average 12‑month price target of about $26.38.
• Institutional investors own roughly 90.81% of the stock, with large stake increases from firms such as Centersquare and Envestnet in the most recent quarter.
• Kite declared a quarterly dividend of $0.29 (annualized $1.16), implying a 4.6% yield

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have earned a consensus recommendation of "Hold" from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.3750.

A number of equities analysts have commented on KRG shares. Wall Street Zen upgraded shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Citigroup restated a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Jefferies Financial Group restated a "hold" rating and issued a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Wells Fargo & Company boosted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Finally, Weiss Ratings upgraded shares of Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, February 18th.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRG. State of Wyoming bought a new position in shares of Kite Realty Group Trust in the third quarter worth about $516,000. Candriam S.C.A. bought a new position in shares of Kite Realty Group Trust in the third quarter worth about $2,066,000. Envestnet Asset Management Inc. raised its stake in shares of Kite Realty Group Trust by 22.4% in the third quarter. Envestnet Asset Management Inc. now owns 300,382 shares of the real estate investment trust's stock worth $6,699,000 after acquiring an additional 54,914 shares during the last quarter. Centersquare Investment Management LLC raised its stake in shares of Kite Realty Group Trust by 9.9% in the third quarter. Centersquare Investment Management LLC now owns 8,130,960 shares of the real estate investment trust's stock worth $181,320,000 after acquiring an additional 733,378 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Kite Realty Group Trust by 227.5% in the third quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust's stock worth $1,403,000 after acquiring an additional 43,716 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $25.38 on Tuesday. The firm has a market cap of $5.15 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 4.62 and a beta of 0.88. Kite Realty Group Trust has a 12 month low of $20.28 and a 12 month high of $26.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98. The company's 50-day moving average price is $25.18 and its two-hundred day moving average price is $23.71.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th will be given a $0.29 dividend. The ex-dividend date is Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.6%. Kite Realty Group Trust's payout ratio is 84.06%.

About Kite Realty Group Trust

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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