Wall Street Zen Upgrades Kite Realty Group Trust (NYSE:KRG) to "Buy"

Wall Street Zen upgraded shares of Kite Realty Group Trust (NYSE:KRG - Free Report) from a hold rating to a buy rating in a research note published on Friday.

A number of other equities research analysts have also issued reports on the stock. Raymond James reduced 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 report on Friday, May 23rd. Wells Fargo & Company reduced their price target on 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, Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price target (down previously from $33.00) on shares of Kite Realty Group Trust in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.63.

Kite Realty Group Trust Trading Up 0.2%

NYSE KRG traded up $0.05 on Friday, reaching $22.64. 1,560,261 shares of the company were exchanged, compared to its average volume of 1,698,376. The business's fifty day moving average price is $21.73 and its 200 day moving average price is $23.13. The stock has a market capitalization of $4.98 billion, a P/E ratio of 1,131.75, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a fifty-two week low of $18.52 and a fifty-two week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $211.07 million. Analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.77%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 1,542.86%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at $25,000. Smallwood Wealth Investment Management LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at $25,000. Optiver Holding B.V. increased its holdings in shares of Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 467 shares during the period. CX Institutional acquired a new position in shares of Kite Realty Group Trust in the first quarter valued at approximately $79,000. Finally, FIL Ltd increased its holdings in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 579 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.