Kite Realty Group Trust (NYSE:KRG) Receives $28.86 Average PT from Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have received an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $28.86.

KRG has been the topic of several recent research reports. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, August 16th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Compass Point upped their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird upped their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Piper Sandler upped their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Kite Realty Group Trust

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock worth $150,865,000 after acquiring an additional 43,015 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Kite Realty Group Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock worth $96,993,000 after acquiring an additional 173,290 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after acquiring an additional 190,380 shares during the period. Millennium Management LLC increased its position in shares of Kite Realty Group Trust by 17.7% during the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after acquiring an additional 386,566 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Kite Realty Group Trust by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock worth $48,955,000 after acquiring an additional 32,493 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 1.6 %

Shares of Kite Realty Group Trust stock opened at $27.13 on Friday. The stock has a market cap of $5.96 billion, a P/E ratio of -678.25, a P/E/G ratio of 3.83 and a beta of 1.29. The stock’s 50 day simple moving average is $26.52 and its 200-day simple moving average is $24.67. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a $0.27 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 3.98%. Kite Realty Group Trust’s payout ratio is presently -2,700.00%.

Kite Realty Group Trust Company Profile

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.