Piper Sandler Reiterates Neutral Rating for Kite Realty Group Trust (NYSE:KRG)

Piper Sandler reaffirmed their neutral rating on shares of Kite Realty Group Trust (NYSE:KRG) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $25.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $33.00.

Several other analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $31.00 to $27.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price objective on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. KeyCorp raised their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Hold” and an average target price of $28.13.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $22.40 on Thursday. The firm has a market cap of $4.92 billion, a PE ratio of -559.88, a P/E/G ratio of 3.63 and a beta of 1.27. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $24.20 and a 200 day moving average price of $25.44.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate 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%. Sell-side analysts predict that Kite Realty Group Trust will post 2.06 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently -2,700.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KRG. Wilmington Savings Fund Society FSB purchased a new position in Kite Realty Group Trust during the third quarter worth about $39,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $45,000. Versant Capital Management Inc raised its position in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,080 shares during the period. Optiver Holding B.V. lifted its holdings in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 467 shares during the last quarter. Finally, FIL Ltd grew its position in Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 579 shares during the period. 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 (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.