Kite Realty Group Trust (NYSE:KRG) Given Average Recommendation of “Moderate Buy” by Analysts

Kite Realty Group Trust (NYSE:KRGGet Free Report) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $27.63.

KRG has been the subject of a number of analyst reports. Raymond James Financial reduced their price objective on 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. Wall Street Zen upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Wells Fargo & Company lowered their price target on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th.

Read Our Latest Stock Analysis on KRG

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors have recently made changes to their positions in KRG. Norges Bank purchased a new position in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $91,335,000. Centersquare Investment Management LLC lifted its stake in shares of Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after acquiring an additional 3,408,442 shares during the last quarter. Nuveen LLC purchased a new position in Kite Realty Group Trust during the 1st quarter valued at $70,071,000. Long Pond Capital LP purchased a new position in Kite Realty Group Trust during the 1st quarter valued at $60,616,000. Finally, JPMorgan Chase & Co. grew its position in Kite Realty Group Trust by 23.3% in the 4th quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock valued at $308,317,000 after acquiring an additional 2,308,613 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Performance

NYSE:KRG opened at $22.32 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.89. The firm’s fifty day simple moving average is $21.98 and its 200 day simple moving average is $22.94. The stock has a market cap of $4.91 billion, a P/E ratio of 318.86, a price-to-earnings-growth ratio of 5.69 and a beta of 1.11. Kite Realty Group Trust has a twelve month low of $18.52 and a twelve month high of $28.24.

Kite Realty Group Trust (NYSE:KRGGet Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $221.76 million during the quarter, compared to analyst estimates of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. As a group, research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Wednesday, July 9th. Kite Realty Group Trust’s payout ratio is 1,542.86%.

About Kite Realty Group Trust

(Get Free Report

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.

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

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