Kite Realty Group Trust (NYSE:KRG) Rating Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Kite Realty Group Trust (NYSE:KRG) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has $27.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $31.00.

Several other brokerages also recently commented on KRG. Robert W. Baird boosted their target price on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. KeyCorp boosted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Compass Point raised their target price on 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. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.43.

Kite Realty Group Trust Price Performance

NYSE:KRG opened at $25.05 on Thursday. 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 cap of $5.50 billion, a PE ratio of -626.25, a price-to-earnings-growth ratio of 3.81 and a beta of 1.28. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $28.24. The company’s 50-day moving average price is $26.38 and its two-hundred day moving average price is $25.32.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Friday, January 10th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is -2,700.00%.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KRG. UMB Bank n.a. raised its position in shares of Kite Realty Group Trust by 819.0% during the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 950 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Kite Realty Group Trust in the third quarter valued at about $39,000. Strategic Investment Solutions Inc. IL acquired a new position in Kite Realty Group Trust in the third quarter valued at about $45,000. Quarry LP grew its position in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,080 shares during the last quarter. 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.