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

Kite Realty Group Trust (NYSE:KRG) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.86.

KRG has been the topic of a number of recent research reports. Compass Point raised their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Piper Sandler boosted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Finally, KeyCorp upped their price target on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kite Realty Group Trust by 432.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,361,062 shares of the real estate investment trust’s stock valued at $36,150,000 after buying an additional 1,105,539 shares during the period. Land & Buildings Investment Management LLC bought a new position in shares of Kite Realty Group Trust during the 2nd quarter valued at approximately $22,277,000. APG Asset Management US Inc. purchased a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $16,665,000. Franklin Resources Inc. raised its holdings in shares of Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after purchasing an additional 673,976 shares during the period. Finally, F M Investments LLC purchased a new position in Kite Realty Group Trust in the second quarter valued at approximately $10,164,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $25.29 on Wednesday. The stock’s 50 day moving average is $26.55 and its 200-day moving average is $25.17. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $28.24. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of -632.25, a PEG ratio of 3.81 and a beta of 1.28.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is -2,700.00%.

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.