Shares of Kite Realty Group Trust (NYSE:KRG – Get Free Report) 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.
Check Out Our Latest Stock Analysis on Kite Realty Group Trust
Kite Realty Group Trust Stock Performance
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.
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