Kite Realty Group Trust (NYSE:KRG) Price Target Raised to $32.00

Kite Realty Group Trust (NYSE:KRG) had its target price increased by Compass Point from $29.00 to $32.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on KRG. Piper Sandler boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an overweight rating in a research note on Tuesday. Raymond James raised shares of Kite Realty Group Trust from a market perform rating to a strong-buy rating and set a $28.00 price objective for the company in a research note on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an underweight rating to an equal weight rating and upped their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Robert W. Baird upped their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Finally, KeyCorp upped their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of Moderate Buy and an average price target of $28.00.

Kite Realty Group Trust Stock Down 0.8 %

Shares of KRG opened at $25.67 on Wednesday. The firm has a market capitalization of $5.64 billion, a P/E ratio of 98.85, a P/E/G ratio of 3.99 and a beta of 1.29. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $26.33. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $24.20 and a 200-day moving average price of $22.29.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 4.05%. Kite Realty Group Trust’s dividend payout ratio is presently 400.00%.

Hedge Funds Weigh In On Kite Realty Group Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Kite Realty Group Trust by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock worth $76,448,000 after purchasing an additional 90,897 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Kite Realty Group Trust during the first quarter worth about $594,000. Vanguard Group Inc. grew its stake in shares of Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after acquiring an additional 881,502 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Kite Realty Group Trust by 28.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after purchasing an additional 693,852 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Kite Realty Group Trust in the 1st quarter valued at approximately $752,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.