Kite Realty Group Trust (NYSE:KRG) Reaches New 52-Week High at $27.13

Kite Realty Group Trust (NYSE:KRG)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $27.13 and last traded at $26.88, with a volume of 548383 shares. The stock had previously closed at $26.70.

Analyst Ratings Changes

Several analysts have commented on KRG shares. Compass Point increased their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. KeyCorp increased their target price on shares of 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. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Robert W. Baird increased their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Piper Sandler raised their price objective on 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Kite Realty Group Trust Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The business’s fifty day moving average price is $24.86 and its two-hundred day moving average price is $22.58. The stock has a market capitalization of $5.87 billion, a PE ratio of 102.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.89%. Kite Realty Group Trust’s dividend payout ratio is currently 400.00%.

Insider Buying and Selling

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors have recently added to or reduced their stakes in KRG. Vanguard Group Inc. lifted its holdings in Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after purchasing an additional 881,502 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after buying an additional 190,380 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Kite Realty Group Trust by 28.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after buying an additional 693,852 shares in the last quarter. Millennium Management LLC boosted its holdings in Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after buying an additional 386,566 shares during the last quarter. Finally, Norges Bank purchased a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $52,746,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.