Wells Fargo & Company Has Lowered Expectations for Kite Realty Group Trust (NYSE:KRG) Stock Price

Kite Realty Group Trust (NYSE:KRG) had its target price reduced by Wells Fargo & Company from $26.00 to $24.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on KRG. JPMorgan Chase & Co. dropped their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Piper Sandler reiterated a “neutral” rating and issued a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a research note on Thursday, February 13th. Jefferies Financial Group downgraded Kite Realty Group Trust from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $27.00 in a report on Thursday, January 2nd. Finally, Raymond James lowered their price target on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.88.

Kite Realty Group Trust Stock Up 0.6 %

Shares of KRG stock opened at $22.66 on Wednesday. The company has a 50 day simple moving average of $22.76 and a two-hundred day simple moving average of $24.89. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The stock has a market cap of $4.98 billion, a P/E ratio of 1,132.75, a P/E/G ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. On average, research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.77%. Kite Realty Group Trust’s payout ratio is currently 5,400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Kite Realty Group Trust in the third quarter valued at approximately $39,000. Versant Capital Management Inc increased its position in Kite Realty Group Trust by 551.7% during the fourth quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 2,080 shares in the last quarter. Optiver Holding B.V. raised its stake in Kite Realty Group Trust by 19.9% in the 4th quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 467 shares during the last quarter. FIL Ltd raised its position in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 579 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC purchased a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at $101,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.