Kite Realty Group Trust (NYSE:KRG) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Kite Realty Group Trust has received a consensus rating of "Hold" from nine research firms, with six analysts recommending a hold, two a buy, and one a strong buy.
• In institutional investments, Centersquare Investment Management increased its stake in Kite Realty Group Trust by 133.6%, now holding nearly 6 million shares valued at over $133 million.
• The company announced a quarterly dividend of $0.27, representing an annualized rate of $1.08 and a dividend yield of 5.0%, with a payout ratio of 136.71%.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) has been given an average rating of "Hold" by the nine brokerages that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.1111.

Several research firms recently commented on KRG. Raymond James Financial lowered their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group began coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price target for the company. Finally, Piper Sandler reissued a "neutral" rating and issued a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday.

Kite Realty Group Trust Stock Down 1.9%

Shares of NYSE KRG traded down $0.41 during midday trading on Thursday, hitting $21.44. The company's stock had a trading volume of 1,540,890 shares, compared to its average volume of 1,603,682. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 6.62 and a beta of 1.16. The business's fifty day simple moving average is $22.48 and its two-hundred day simple moving average is $22.31. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million during the quarter, compared to analysts' expectations of $211.74 million. On average, equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's payout ratio is currently 136.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new stake in Kite Realty Group Trust in the 1st quarter valued at $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust in the first quarter valued at about $25,000. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth about $30,000. UMB Bank n.a. boosted its stake in shares of Kite Realty Group Trust by 103.0% during the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust's stock worth $59,000 after buying an additional 1,323 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Kite Realty Group Trust by 44.0% during the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust's stock worth $67,000 after buying an additional 908 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.