Kite Realty Group Trust (NYSE:KRG) Upgraded by Jefferies Financial Group to Hold Rating

Jefferies Financial Group upgraded shares of Kite Realty Group Trust (NYSE:KRG) to a hold rating in a research note published on Friday morning,Zacks.com reports.

A number of other brokerages also recently weighed in on KRG. LADENBURG THALM/SH SH increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. UBS Group reissued a “neutral” rating and set a $28.00 price target (up from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, May 18th. Wells Fargo & Company restated an “overweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a research report on Tuesday, May 26th. Finally, Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.43.

Kite Realty Group Trust Price Performance

KRG opened at $29.23 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.06 and a current ratio of 1.06. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.40. The company has a fifty day moving average price of $27.20 and a two-hundred day moving average price of $25.42. The firm has a market capitalization of $5.94 billion, a PE ratio of 21.98, a P/E/G ratio of 4.09 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $200.70 million during the quarter, compared to analyst estimates of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 9th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.0%. Kite Realty Group Trust’s dividend payout ratio is presently 87.22%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings 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 purchasing an additional 19,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kite Realty Group Trust by 4.6% during the first 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 buying an additional 5,666 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Kite Realty Group Trust by 118.4% in the 2nd 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 last quarter. California Public Employees Retirement System raised its position in Kite Realty Group Trust by 14.5% in the 2nd quarter. California Public Employees Retirement System now owns 385,476 shares of the real estate investment trust’s stock valued at $8,731,000 after buying an additional 48,935 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Kite Realty Group Trust by 3.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 77,577 shares of the real estate investment trust’s stock valued at $1,757,000 after buying an additional 2,386 shares during the last quarter. 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.