Kite Realty Group Trust (NYSE:KRG) Given Average Recommendation of “Hold” by Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have received an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $26.3750.

Several equities research analysts recently commented on the stock. Citigroup reissued a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research note on Tuesday, February 24th. UBS Group restated a “neutral” rating and issued a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Wall Street Zen raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Robert W. Baird increased their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Cohen & Steers Inc. grew its holdings in shares of Kite Realty Group Trust by 26.3% during the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after buying an additional 5,486,116 shares during the last quarter. 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 last quarter. Centersquare Investment Management LLC lifted its position in Kite Realty Group Trust by 1.3% in the 4th quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock valued at $197,436,000 after acquiring an additional 105,830 shares in the last quarter. Bank of America Corp DE boosted its stake in Kite Realty Group Trust by 6.9% during the 3rd quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock valued at $142,009,000 after purchasing an additional 411,465 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Kite Realty Group Trust by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after purchasing an additional 40,017 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $25.33 on Friday. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $26.38. The firm has a market capitalization of $5.24 billion, a P/E ratio of 18.35, a P/E/G ratio of 4.58 and a beta of 0.86. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $24.73 and a two-hundred day simple moving average of $23.43.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be paid a $0.29 dividend. The ex-dividend date is Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.6%. Kite Realty Group Trust’s payout ratio is presently 84.06%.

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.