Kite Realty Group Trust (NYSE:KRG) Upgraded by Jefferies Financial Group to Buy

Jefferies Financial Group upgraded shares of Kite Realty Group Trust (NYSE:KRG - Free Report) from a hold rating to a buy rating in a report issued on Thursday, MarketBeat.com reports. They currently have $23.00 price objective on the real estate investment trust's stock.

KRG has been the topic of several other reports. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the company an overweight rating in a report on Wednesday, December 20th. StockNews.com upgraded Kite Realty Group Trust from a sell rating to a hold rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $25.50.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG traded up $0.47 during trading on Thursday, reaching $20.56. The company had a trading volume of 2,533,620 shares, compared to its average volume of 1,869,109. Kite Realty Group Trust has a 52 week low of $19.16 and a 52 week high of $24.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.76. The business's 50 day moving average price is $21.05 and its 200-day moving average price is $21.36. The stock has a market cap of $4.51 billion, a PE ratio of 91.32, a PEG ratio of 2.86 and a beta of 1.29.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $1.00 annualized dividend and a dividend yield of 4.86%. Kite Realty Group Trust's dividend payout ratio is presently 454.57%.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Kite Realty Group Trust by 12.4% in the 1st quarter. BlackRock Inc. now owns 34,531,664 shares of the real estate investment trust's stock valued at $722,402,000 after acquiring an additional 3,818,524 shares in the last quarter. Vanguard Group Inc. grew its position in Kite Realty Group Trust by 1.2% in the first quarter. Vanguard Group Inc. now owns 32,761,306 shares of the real estate investment trust's stock valued at $745,974,000 after purchasing an additional 378,764 shares in the last quarter. State Street Corp grew its position in Kite Realty Group Trust by 15.0% in the first quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust's stock valued at $300,695,000 after purchasing an additional 1,726,009 shares in the last quarter. Macquarie Group Ltd. increased its stake in Kite Realty Group Trust by 16.6% in the 2nd quarter. Macquarie Group Ltd. now owns 8,943,429 shares of the real estate investment trust's stock valued at $154,637,000 after buying an additional 1,275,585 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Kite Realty Group Trust by 7.2% during the 3rd quarter. Deutsche Bank AG now owns 7,545,779 shares of the real estate investment trust's stock worth $161,631,000 after buying an additional 508,102 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

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.