Kite Realty Group Trust (NYSE:KRG) Price Target Lowered to $27.00 at JPMorgan Chase & Co.

Kite Realty Group Trust (NYSE:KRG) had its target price trimmed by JPMorgan Chase & Co. from $30.00 to $27.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

KRG has been the subject of several other reports. 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 research note on Tuesday, November 12th. Robert W. Baird upped their price target on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus price target of $29.13.

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $22.84 on Wednesday. The firm has a market capitalization of $5.02 billion, a P/E ratio of -571.00, a PEG ratio of 3.17 and a beta of 1.29. The stock has a fifty day moving average price of $25.93 and a 200 day moving average price of $25.42. Kite Realty Group Trust has a 52 week low of $19.64 and a 52 week high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

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 given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, January 10th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 4.73%. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,700.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its stake 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 worth $28,000 after acquiring an additional 950 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $39,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Kite Realty Group Trust during the 3rd quarter worth $45,000. Quarry LP boosted its stake 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 acquiring an additional 1,167 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares in the last quarter. 90.81% of the stock is 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.