Brokerages Set Kite Realty Group Trust (NYSE:KRG) Target Price at $27.63

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.63.

A number of research analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 target price (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Wells Fargo & Company decreased their target price 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. Finally, Raymond James decreased their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd.

Kite Realty Group Trust Price Performance

NYSE KRG traded up $0.46 on Friday, hitting $22.30. The company had a trading volume of 1,739,564 shares, compared to its average volume of 1,688,649. The company has a market capitalization of $4.90 billion, a PE ratio of 1,114.75, a PEG ratio of 3.57 and a beta of 1.10. The company's fifty day moving average price is $21.78 and its 200-day moving average price is $23.46. 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 has a 12-month low of $18.52 and a 12-month high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The business had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. As a group, analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio is presently 1,542.86%.

Institutional Trading of Kite Realty Group Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. Proficio Capital Partners LLC acquired a new position in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $1,180,000. Charles Schwab Investment Management Inc. boosted its position in Kite Realty Group Trust by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,725,783 shares of the real estate investment trust's stock worth $94,039,000 after acquiring an additional 73,926 shares during the period. Raymond James Financial Inc. acquired a new position in Kite Realty Group Trust during the 4th quarter worth $19,632,000. New York State Common Retirement Fund lifted its holdings in shares of Kite Realty Group Trust by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 108,589 shares of the real estate investment trust's stock valued at $2,741,000 after buying an additional 17,015 shares during the period. Finally, Aew Capital Management L P acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $31,663,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

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.