Kite Realty Group Trust (KRG) Sees Strong Trading Volume
Shares of Kite Realty Group Trust (NYSE:KRG) saw strong trading volume on Friday . 800,299 shares were traded during trading, an increase of 87% from the previous session’s volume of 427,327 shares.The stock last traded at $29.63 and had previously closed at $28.98.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Raymond James Financial Inc. cut shares of Kite Realty Group Trust from a “strong-buy” rating to an “outperform” rating and set a $30.00 target price on the stock. in a report on Monday, May 2nd. They noted that the move was a valuation call. Barclays PLC began coverage on shares of Kite Realty Group Trust in a report on Friday. They issued an “overweight” rating and a $33.00 price target on the stock. Finally, DA Davidson began coverage on shares of Kite Realty Group Trust in a report on Friday, April 1st. They issued a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.00.
The stock has a market cap of $2.47 billion and a price-to-earnings ratio of 211.64. The firm’s 50 day moving average price is $27.68 and its 200-day moving average price is $27.13.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The company earned $88.55 million during the quarter, compared to analysts’ expectations of $87.34 million. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. On average, equities analysts predict that Kite Realty Group Trust will post $2.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, July 7th were issued a $0.2875 dividend. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.15 annualized dividend and a yield of 3.88%.
A number of hedge funds recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of Kite Realty Group Trust by 21.7% in the fourth quarter. ProShare Advisors LLC now owns 44,341 shares of the company’s stock valued at $1,150,000 after buying an additional 7,904 shares during the period. State of Tennessee Treasury Department bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $1,685,000. Stephens Inc. AR raised its stake in shares of Kite Realty Group Trust by 7.7% in the fourth quarter. Stephens Inc. AR now owns 70,486 shares of the company’s stock valued at $1,828,000 after buying an additional 5,053 shares during the period. Pensionfund DSM Netherlands bought a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $2,048,000. Finally, US Bancorp DE raised its stake in shares of Kite Realty Group Trust by 26.5% in the fourth quarter. US Bancorp DE now owns 81,303 shares of the company’s stock valued at $2,108,000 after buying an additional 17,007 shares during the period.
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States.
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