Kite Realty Group Trust (NYSE:KRG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $26.83.

A number of research firms have recently weighed in on KRG. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research report on Wednesday. KeyCorp raised their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Friday, August 16th. Finally, Robert W. Baird raised their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Kite Realty Group Trust Stock Up 0.2 %

Kite Realty Group Trust stock opened at $26.02 on Thursday. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $26.22. The firm has a 50 day moving average price of $23.72 and a 200-day moving average price of $22.11. The company has a market capitalization of $5.71 billion, a P/E ratio of 100.08, a P/E/G ratio of 6.25 and a beta of 1.31. The company has a quick ratio of 2.72, a current ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.00%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 400.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP boosted its holdings in Kite Realty Group Trust by 108.4% in the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,167 shares during the period. Systematic Financial Management LP boosted its holdings in Kite Realty Group Trust by 34.0% in the 2nd quarter. Systematic Financial Management LP now owns 688,575 shares of the real estate investment trust’s stock valued at $15,410,000 after purchasing an additional 174,797 shares during the period. Creative Planning boosted its holdings in Kite Realty Group Trust by 55.7% in the 2nd quarter. Creative Planning now owns 20,150 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 7,206 shares during the period. Algert Global LLC raised its position in shares of Kite Realty Group Trust by 2.1% during the 2nd quarter. Algert Global LLC now owns 138,627 shares of the real estate investment trust’s stock valued at $3,102,000 after buying an additional 2,797 shares in the last quarter. Finally, Lighthouse Investment Partners LLC raised its position in shares of Kite Realty Group Trust by 157.9% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 735,000 shares of the real estate investment trust’s stock valued at $16,449,000 after buying an additional 450,000 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.