Kite Realty Group Trust (NYSE:KRG) Given Consensus Rating of "Moderate Buy" by Brokerages

Kite Realty Group Trust (NYSE:KRG - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.63.

KRG has been the topic of a number of recent research reports. Raymond James cut their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday. Wells Fargo & Company reduced 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 research report on Wednesday, March 26th. Finally, Piper Sandler restated a "neutral" rating and set a $25.00 price target (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th.

Institutional Trading of Kite Realty Group Trust

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

Kite Realty Group Trust Stock Up 2.7%

NYSE KRG traded up $0.57 on Friday, reaching $21.96. The company had a trading volume of 1,483,336 shares, compared to its average volume of 1,689,528. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 1,098.15, 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's fifty day moving average is $21.80 and its 200-day moving average is $23.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.98 and a current ratio of 2.98.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $211.07 million. On average, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust's payout ratio is 1,542.86%.

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.