Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $28.00

Shares of Kite Realty Group Trust (NYSE:KRG) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.00.

Several brokerages recently issued reports on KRG. KeyCorp lifted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Compass Point boosted 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 research note on Wednesday, September 4th. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research note on Friday, August 16th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Finally, Piper Sandler increased their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd.

Kite Realty Group Trust Trading Down 1.1 %

Shares of KRG stock opened at $25.90 on Friday. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s fifty day moving average price is $25.85 and its two-hundred day moving average price is $23.32. The company has a market cap of $5.69 billion, a PE ratio of 99.62, a P/E/G ratio of 3.93 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 4.02%. Kite Realty Group Trust’s dividend payout ratio is presently 400.00%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction 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 sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in Kite Realty Group Trust during the fourth quarter worth approximately $39,000. Fidelis Capital Partners LLC bought a new stake in Kite Realty Group Trust in the first quarter worth approximately $42,000. GAMMA Investing LLC lifted its stake in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares during the period. Finally, Quarry LP lifted its stake in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,167 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.