Kite Realty Group Trust (NYSE:KRG) Hits New 1-Year High – What’s Next?

Kite Realty Group Trust (NYSE:KRG)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $25.11 and last traded at $25.0240, with a volume of 1153654 shares changing hands. The stock had previously closed at $24.68.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KRG. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price objective (up previously from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, UBS Group reaffirmed a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.43.

Kite Realty Group Trust Price Performance

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 firm has a market cap of $5.42 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 6.23 and a beta of 0.91. The stock’s 50 day simple moving average is $23.60 and its 200-day simple moving average is $22.76.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were paid a $0.29 dividend. The ex-dividend date was Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 4.6%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 181.25%.

Hedge Funds Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its stake in Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust in the second quarter worth $30,000. First Horizon Corp purchased a new position in shares of Kite Realty Group Trust during the third quarter worth $30,000. EverSource Wealth Advisors LLC lifted its position in Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 740 shares during the period. Finally, Smallwood Wealth Investment Management LLC boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.