Kite Realty Group Trust (NYSE:KRG) Price Target Raised to $28.00

Kite Realty Group Trust (NYSE:KRG) had its price target increased by Wells Fargo & Company from $25.00 to $28.00 in a research report report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. 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. Jefferies Financial Group restated a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Citigroup restated a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Robert W. Baird boosted their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average price target of $26.38.

Kite Realty Group Trust Price Performance

Kite Realty Group Trust stock opened at $24.59 on Thursday. The company’s 50 day simple moving average is $24.75 and its 200-day simple moving average is $23.45. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 4.46 and a beta of 0.86. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $26.38. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Thursday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 84.06%.

Institutional Trading of Kite Realty Group Trust

A number of large investors have recently modified their holdings of KRG. AQR Capital Management LLC raised its stake in shares of Kite Realty Group Trust by 32.2% in the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock valued at $1,797,000 after acquiring an additional 19,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kite Realty Group Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock worth $2,893,000 after purchasing an additional 5,666 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kite Realty Group Trust during the 2nd quarter worth about $268,000. Geode Capital Management LLC increased its holdings in Kite Realty Group Trust by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock worth $133,183,000 after purchasing an additional 40,017 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Kite Realty Group Trust by 7.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 49,631 shares of the real estate investment trust’s stock valued at $1,124,000 after purchasing an additional 3,347 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.