Brokerages Set Kite Realty Group Trust (NYSE:KRG) PT at $27.88

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $27.88.

Several analysts have commented on KRG shares. Raymond James dropped their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company cut their price objective on shares of 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. Piper Sandler reiterated a "neutral" rating and set a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th.

Kite Realty Group Trust Trading Up 1.9 %

KRG traded up $0.41 during mid-day trading on Tuesday, hitting $22.48. The stock had a trading volume of 2,431,817 shares, compared to its average volume of 1,662,247. The stock's fifty day simple moving average is $21.77 and its 200-day simple moving average is $23.91. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 1,124.00, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.98 and a quick ratio of 2.98.

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 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. Kite Realty Group Trust had a return on equity of 0.12% and a net margin of 0.48%. The business had revenue of $221.76 million for the quarter, compared to the consensus estimate of $211.07 million. As a group, research analysts forecast that Kite Realty Group Trust will post 2.05 EPS 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. Investors of record on Wednesday, July 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is currently 1,542.86%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the 1st quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Kite Realty Group Trust during the first quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust during the third quarter worth $39,000. Versant Capital Management Inc lifted its stake in Kite Realty Group Trust by 551.7% in the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 2,080 shares during the last quarter. Finally, Optiver Holding B.V. grew its position in shares of Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 467 shares during the period. 90.81% of the stock is 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.