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

Kite Realty Group Trust (NYSE:KRG - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $27.88.

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group cut Kite Realty Group Trust from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their target price on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Finally, Raymond James decreased their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research note on Monday, March 10th.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors and hedge funds have recently modified their holdings of KRG. Smallwood Wealth Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the first quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Kite Realty Group Trust during the 1st quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in Kite Realty Group Trust in the 3rd quarter worth about $39,000. Versant Capital Management Inc grew its stake in Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 2,080 shares in the last quarter. Finally, Optiver Holding B.V. increased its position in shares of Kite Realty Group Trust by 19.9% during the fourth 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. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Price Performance

KRG traded up $0.41 on Tuesday, hitting $22.48. 2,431,817 shares of the company's stock traded hands, compared to its average volume of 1,666,975. The company's 50 day simple moving average is $21.77 and its 200-day simple moving average is $23.97. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a one year low of $18.52 and a one year high of $28.24. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 1,124.00, a P/E/G ratio of 3.57 and a beta of 1.05.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released 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. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. The firm had revenue of $221.76 million for the quarter, compared to analysts' expectations of $211.07 million. As a group, research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

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 given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 5,400.00%.

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.