Kite Realty Group Trust (NYSE:KRG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.86.

KRG has been the topic of several research reports. KeyCorp boosted their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Robert W. Baird lifted their price target on shares of Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Compass Point increased their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Piper Sandler raised their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Kite Realty Group Trust Stock Down 1.0 %

NYSE:KRG opened at $25.05 on Wednesday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of -626.25, a PEG ratio of 3.81 and a beta of 1.28. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $26.48 and a two-hundred day moving average price of $25.26. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.31%. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,700.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Kite Realty Group Trust in the third quarter valued at approximately $39,000. Sanctuary Advisors LLC grew its position in Kite Realty Group Trust by 60.3% during the third quarter. Sanctuary Advisors LLC now owns 24,451 shares of the real estate investment trust’s stock worth $670,000 after buying an additional 9,201 shares in the last quarter. Geode Capital Management LLC increased its stake in Kite Realty Group Trust by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after acquiring an additional 43,015 shares during the period. Finally, M&T Bank Corp raised its holdings in Kite Realty Group Trust by 4.1% in the 3rd quarter. M&T Bank Corp now owns 36,824 shares of the real estate investment trust’s stock valued at $978,000 after acquiring an additional 1,453 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.