Kite Realty Group Trust (NYSE:KRG) Receives Consensus Recommendation of “Hold” from Brokerages

Kite Realty Group Trust (NYSE:KRG) has been given an average rating of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.3750.

A number of brokerages have recently commented on KRG. Wells Fargo & Company lifted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup restated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. UBS Group reaffirmed a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Robert W. Baird boosted their target price on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Arax Advisory Partners grew its stake in shares of Kite Realty Group Trust by 182.0% during the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 726 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Kite Realty Group Trust in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Kite Realty Group Trust by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 462 shares during the last quarter. First Horizon Corp purchased a new position in shares of Kite Realty Group Trust in the third quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC grew its position in Kite Realty Group Trust by 118.4% during 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 buying an additional 740 shares during the period. 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 $25.33 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 4.58 and a beta of 0.86. The business has a 50-day simple moving average of $24.73 and a two-hundred day simple moving average of $23.43. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $26.38.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 9th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Thursday, April 9th. Kite Realty Group Trust’s dividend payout ratio is 84.06%.

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.