Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
Kite Realty Group Trust Stock Performance
Shares of NYSE:KRG traded up $0.12 during trading on Tuesday, hitting $20.44. 1,208,053 shares of the stock traded hands, compared to its average volume of 1,441,368. The company has a quick ratio of 2.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -32.97, a P/E/G ratio of 1.19 and a beta of 1.32. The company has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $20.64. Kite Realty Group Trust has a 52-week low of $16.68 and a 52-week high of $23.35.
Kite Realty Group Trust Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.11%. This is a positive change from Kite Realty Group Trust's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, July 7th. Kite Realty Group Trust's payout ratio is -135.48%.
Wall Street Analyst Weigh In
A number of research firms recently commented on KRG. Jefferies Financial Group cut shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Thursday, June 30th. Piper Sandler decreased their price objective on shares of Kite Realty Group Trust to $25.00 in a research note on Monday, July 4th. Compass Point decreased their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, June 22nd. Capital One Financial restated an "overweight" rating on shares of Kite Realty Group Trust in a research note on Wednesday, May 25th. Finally, Barclays decreased their price objective on shares of Kite Realty Group Trust from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.00.