Kite Realty Group Trust (NYSE:KRG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Kite Realty Group Trust (NYSE:KRG) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.00.

Several equities research analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Piper Sandler increased their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Compass Point increased their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Raymond James upgraded shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Friday, August 16th.

Kite Realty Group Trust Stock Up 2.8 %

Shares of NYSE:KRG opened at $26.51 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.08 and a current ratio of 3.08. The company has a market cap of $5.82 billion, a PE ratio of -662.75, a price-to-earnings-growth ratio of 3.91 and a beta of 1.29. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $27.15. The firm has a 50 day simple moving average of $26.09 and a 200 day simple moving average of $23.83.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.07%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in Kite Realty Group Trust by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock worth $3,408,000 after buying an additional 484 shares in the last quarter. Marcum Wealth LLC boosted its holdings in Kite Realty Group Trust by 1.4% during the third quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 571 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Kite Realty Group Trust by 2.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after purchasing an additional 671 shares in the last quarter. United Services Automobile Association boosted its holdings in Kite Realty Group Trust by 4.6% during the second quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock valued at $398,000 after purchasing an additional 777 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in Kite Realty Group Trust by 1.5% during the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after purchasing an additional 900 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.