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

Kite Realty Group Trust (NYSE:KRG) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $29.13.

KRG has been the topic of several research reports. Robert W. Baird upped their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Jefferies Financial Group cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th.

Kite Realty Group Trust Trading Down 3.1 %

Shares of KRG opened at $22.96 on Thursday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. 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 firm has a market capitalization of $5.04 billion, a P/E ratio of -574.00, a PEG ratio of 3.63 and a beta of 1.27. The firm’s 50-day moving average is $24.44 and its two-hundred day moving average is $25.49.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. On average, research analysts predict that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s payout ratio is -2,700.00%.

Institutional Trading of Kite Realty Group Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Kite Realty Group Trust during the 4th quarter worth $91,335,000. Centersquare Investment Management LLC acquired a new position in Kite Realty Group Trust in the fourth quarter valued at $64,403,000. JPMorgan Chase & Co. lifted its position in Kite Realty Group Trust by 23.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,215,421 shares of the real estate investment trust’s stock worth $308,317,000 after buying an additional 2,308,613 shares during the period. Aew Capital Management L P acquired a new stake in Kite Realty Group Trust in the 4th quarter worth about $31,663,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Kite Realty Group Trust by 432.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after buying an additional 1,105,539 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.