Kite Realty Group Trust (NYSE:KRG) Given Consensus Rating of “Hold” by Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.4286.

Several analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Jefferies Financial Group restated a “hold” rating and issued a $24.00 price target (up previously from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Finally, Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Kite Realty Group Trust by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Kite Realty Group Trust during the 2nd quarter valued at about $30,000. First Horizon Corp purchased a new position in Kite Realty Group Trust in the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 740 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC grew its position in shares of Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG stock opened at $22.72 on Thursday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 5.83 and a beta of 0.89. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $24.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day simple moving average is $23.36 and its 200-day simple moving average is $22.66.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $205.06 million during the quarter, compared to analysts’ expectations of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. As a group, equities analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were paid a $0.29 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently 181.25%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.