A number of other equities research analysts also recently weighed in on KRG. Raymond James downgraded shares of Kite Realty Group Trust from an outperform rating to a market perform rating in a research note on Tuesday, February 26th. Bank of America downgraded shares of Kite Realty Group Trust from a neutral rating to an underperform rating in a research note on Monday, March 4th. Citigroup set a $16.00 price target on shares of Kite Realty Group Trust and gave the stock a hold rating in a research note on Monday, May 20th. Finally, Zacks Investment Research raised shares of Kite Realty Group Trust from a sell rating to a hold rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $16.33.
Shares of KRG opened at $15.02 on Friday. The company has a 50 day moving average of $15.82. The stock has a market capitalization of $1.27 billion, a P/E ratio of 7.51, a P/E/G ratio of 1.85 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.35 and a quick ratio of 1.35. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $17.75.
Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $83.52 million for the quarter, compared to the consensus estimate of $81.50 million. Kite Realty Group Trust had a negative net margin of 6.59% and a negative return on equity of 1.59%. Kite Realty Group Trust’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. As a group, research analysts anticipate that Kite Realty Group Trust will post 1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 8.46%. The ex-dividend date of this dividend is Thursday, June 20th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 63.50%.
Several hedge funds have recently bought and sold shares of KRG. Oregon Public Employees Retirement Fund purchased a new position in shares of Kite Realty Group Trust during the fourth quarter worth approximately $32,000. Pearl River Capital LLC purchased a new position in shares of Kite Realty Group Trust during the fourth quarter worth approximately $37,000. Versant Capital Management Inc grew its holdings in shares of Kite Realty Group Trust by 96.3% in the first quarter. Versant Capital Management Inc now owns 2,518 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,235 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Kite Realty Group Trust by 2,850.5% in the first quarter. Valeo Financial Advisors LLC now owns 3,157 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Advisory Resource Group bought a new position in shares of Kite Realty Group Trust in the fourth quarter worth approximately $141,000. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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