Kite Realty Group Trust (NYSE:KRG) Sets New 52-Week High – Still a Buy?

Kite Realty Group Trust (NYSE:KRG) shares reached a new 52-week high on Monday . The stock traded as high as $26.33 and last traded at $26.3450, with a volume of 524954 shares traded. The stock had previously closed at $26.05.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KRG shares. UBS Group reiterated a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Citigroup reaffirmed a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Trading Up 0.7%

The firm has a market cap of $5.42 billion, a P/E ratio of 19.00, a PEG ratio of 6.54 and a beta of 0.86. The company’s 50 day moving average is $24.25 and its two-hundred day moving average is $23.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.74.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 9th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 84.06%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arax Advisory Partners increased its holdings in Kite Realty Group Trust by 182.0% in the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 726 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $25,000. Harbor Capital Advisors Inc. boosted its position in shares of Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Kite Realty Group Trust during the 3rd quarter valued at about $30,000. Finally, EverSource Wealth Advisors LLC increased its stake in Kite Realty Group Trust by 118.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 740 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.