Kite Realty Group Trust (NYSE:KRG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $28.00.

KRG has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective 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. Compass Point lifted 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 report on Wednesday, September 4th. Robert W. Baird increased 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 report on Wednesday, July 31st. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, KeyCorp upped their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $26.83 on Monday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $26.91. The stock has a 50 day moving average of $24.67 and a 200-day moving average of $22.51. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $5.89 billion, a P/E ratio of 103.19, a P/E/G ratio of 3.97 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.04 dividend on an annualized basis and a yield of 3.88%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s payout ratio is currently 400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Kite Realty Group Trust during the fourth quarter worth about $52,746,000. Land & Buildings Investment Management LLC bought a new position in Kite Realty Group Trust in the 2nd quarter valued at about $22,277,000. Vanguard Group Inc. raised its position in shares of Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after buying an additional 881,502 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $16,665,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Kite Realty Group Trust by 28.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after acquiring an additional 693,852 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.