Kite Realty Group Trust (KRG) Hits New 12-Month High at $30.05
Shares of Kite Realty Group Trust (NYSE:KRG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.05 and last traded at $30.05, with a volume of 211,927 shares traded. The stock had previously closed at $29.89.
KRG has been the topic of a number of analyst reports. DA Davidson initiated coverage on Kite Realty Group Trust in a research report on Friday, April 1st. They set a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, April 12th. Raymond James Financial Inc. lowered 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 research report on Monday, May 2nd. They noted that the move was a valuation call. Finally, Barclays PLC assumed coverage on Kite Realty Group Trust in a research note on Friday, July 22nd. They issued an “overweight” rating and a $33.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.40.
The stock has a market capitalization of $2.51 billion and a price-to-earnings ratio of 215.00. The company has a 50-day moving average price of $27.95 and a 200-day moving average price of $27.26.
Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $87.58 million for the quarter, compared to the consensus estimate of $87.30 million. Kite Realty Group Trust’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. Analysts anticipate that Kite Realty Group Trust will post $2.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 14th. Stockholders of record on Thursday, July 7th were paid a dividend of $0.2875 per share. The ex-dividend date was Tuesday, July 5th. This represents a $1.15 annualized dividend and a dividend yield of 3.80%.
Several hedge funds recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in Kite Realty Group Trust by 0.9% in the fourth quarter. Swiss National Bank now owns 110,000 shares of the company’s stock valued at $2,852,000 after buying an additional 1,000 shares during the period. Vanguard Group Inc. boosted its stake in Kite Realty Group Trust by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 12,189,235 shares of the company’s stock valued at $316,067,000 after buying an additional 259,455 shares during the period. ProShare Advisors LLC boosted its stake in 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. Rhumbline Advisers boosted its stake in Kite Realty Group Trust by 6.2% in the fourth quarter. Rhumbline Advisers now owns 130,683 shares of the company’s stock valued at $3,389,000 after buying an additional 7,640 shares during the period. Finally, Pensionfund DSM Netherlands bought a new stake in Kite Realty Group Trust during the fourth quarter valued at approximately $2,048,000.
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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