Kite Realty Group Trust (NYSE:KRG) Given Average Rating of "Hold" by 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%.

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have received an average recommendation of "Hold" from the nine research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.1111.

Several research analysts have recently commented on KRG shares. Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. UBS Group began coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price for the company. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Raymond James Financial dropped their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Centersquare Investment Management LLC boosted its stake in Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock valued at $133,327,000 after buying an additional 3,408,442 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kite Realty Group Trust by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust's stock worth $133,183,000 after acquiring an additional 40,017 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Kite Realty Group Trust by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust's stock valued at $130,615,000 after acquiring an additional 459,752 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Kite Realty Group Trust by 17.1% in the fourth quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock valued at $98,074,000 after purchasing an additional 567,284 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Kite Realty Group Trust by 9.0% in the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock worth $95,543,000 after purchasing an additional 311,258 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

KRG traded down $0.53 during trading on Thursday, hitting $20.93. The company's stock had a trading volume of 1,554,444 shares, compared to its average volume of 1,586,975. The business's 50 day simple moving average is $22.46 and its 200-day simple moving average is $22.29. The firm has a market cap of $4.60 billion, a PE ratio of 26.49, a P/E/G ratio of 6.35 and a beta of 1.16. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is 136.71%.

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.