Kite Realty Group Trust (KRG) Given Consensus Recommendation of “Hold” by Brokerages

Kite Realty Group Trust (NYSE:KRG) has been assigned an average rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.00.

KRG has been the subject of a number of research reports. Zacks Investment Research downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Capital One Financial reiterated an “equal weight” rating on shares of Kite Realty Group Trust in a research report on Tuesday, October 24th. Raymond James Financial reiterated an “outperform” rating and set a $23.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Wednesday, December 20th. ValuEngine cut Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Barclays reduced their price target on Kite Realty Group Trust from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th.

Kite Realty Group Trust (NYSE KRG) traded down $0.04 during trading on Tuesday, hitting $15.01. The company had a trading volume of 444,152 shares, compared to its average volume of 649,839. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.05 and a quick ratio of 0.84. Kite Realty Group Trust has a 12-month low of $14.76 and a 12-month high of $24.38. The firm has a market capitalization of $1,293.39, a P/E ratio of 107.36, a price-to-earnings-growth ratio of 1.69 and a beta of 0.42.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The firm had revenue of $88.90 million during the quarter, compared to the consensus estimate of $89.14 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. analysts expect that Kite Realty Group Trust will post 2.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, January 5th were given a dividend of $0.3175 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.30. This represents a $1.27 annualized dividend and a yield of 8.46%. The ex-dividend date of this dividend was Thursday, January 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 907.14%.

In other news, CAO Thomas R. Olinger sold 3,157 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.01, for a total value of $60,014.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $20.09, for a total value of $341,530.00. Following the completion of the sale, the chief executive officer now owns 52,712 shares of the company’s stock, valued at $1,058,984.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,157 shares of company stock valued at $497,645. 1.87% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its position in shares of Kite Realty Group Trust by 55.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,218,437 shares of the real estate investment trust’s stock worth $24,674,000 after purchasing an additional 436,465 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in Kite Realty Group Trust by 132.9% during the fourth quarter. Coronation Fund Managers Ltd. now owns 651,208 shares of the real estate investment trust’s stock worth $12,764,000 after buying an additional 371,590 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Kite Realty Group Trust by 10.9% during the third quarter. Macquarie Group Ltd. now owns 2,343,832 shares of the real estate investment trust’s stock worth $47,463,000 after buying an additional 230,507 shares during the last quarter. American Century Companies Inc. boosted its stake in Kite Realty Group Trust by 13.7% during the fourth quarter. American Century Companies Inc. now owns 1,713,133 shares of the real estate investment trust’s stock worth $33,577,000 after buying an additional 206,839 shares during the last quarter. Finally, Investment Counselors of Maryland LLC boosted its stake in Kite Realty Group Trust by 21.3% during the third quarter. Investment Counselors of Maryland LLC now owns 1,151,730 shares of the real estate investment trust’s stock worth $23,323,000 after buying an additional 202,570 shares during the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/06/kite-realty-group-trust-krg-given-consensus-recommendation-of-hold-by-brokerages.html.

About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply