Brokerages Set Kite Realty Group Trust (NYSE:KRG) Target Price at $25.43

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.4286.

A number of equities analysts recently commented on KRG shares. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. UBS Group reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Finally, Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st.

Kite Realty Group Trust Price Performance

KRG stock opened at $23.62 on Thursday. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $24.50. The firm has a 50-day moving average of $23.42 and a two-hundred day moving average of $22.68. The firm has a market capitalization of $5.11 billion, a PE ratio of 36.91, a P/E/G ratio of 5.93 and a beta of 0.89. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.93.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 9th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.9%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is 181.25%.

Institutional Trading of Kite Realty Group Trust

Several large investors have recently modified their holdings of KRG. JPMorgan Chase & Co. raised its holdings in Kite Realty Group Trust by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after acquiring an additional 1,250,549 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Kite Realty Group Trust by 9.9% during the third quarter. Centersquare Investment Management LLC now owns 8,130,960 shares of the real estate investment trust’s stock worth $181,320,000 after buying an additional 733,378 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Kite Realty Group Trust by 6.9% in the third quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock worth $142,009,000 after acquiring an additional 411,465 shares during the last quarter. Geode Capital Management LLC increased its position in Kite Realty Group Trust by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after acquiring an additional 40,017 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Kite Realty Group Trust by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,758,033 shares of the real estate investment trust’s stock valued at $85,119,000 after purchasing an additional 61,982 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.