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

Kite Realty Group Trust (NYSE:KRG) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.63.

Several equities analysts have weighed in on KRG shares. Wells Fargo & Company dropped their target price on Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Raymond James Financial dropped their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, May 23rd. Finally, Wall Street Zen raised Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Friday, June 6th.

Kite Realty Group Trust Stock Performance

NYSE KRG opened at $22.70 on Wednesday. The company has a market cap of $4.99 billion, a P/E ratio of 324.21, a P/E/G ratio of 5.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50-day moving average of $22.11 and a two-hundred day moving average of $22.82. Kite Realty Group Trust has a 1-year low of $18.52 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $221.76 million during the quarter, compared to the consensus estimate of $211.07 million. Kite Realty Group Trust had a return on equity of 0.41% and a net margin of 1.59%. As a group, analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Wednesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is presently 1,542.86%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Anson Funds Management LP acquired a new position in shares of Kite Realty Group Trust during the first quarter worth about $2,461,000. Strs Ohio acquired a new position in Kite Realty Group Trust in the first quarter valued at approximately $20,517,000. Focus Partners Wealth boosted its holdings in Kite Realty Group Trust by 1.8% in the first quarter. Focus Partners Wealth now owns 179,956 shares of the real estate investment trust’s stock valued at $4,026,000 after purchasing an additional 3,212 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in Kite Realty Group Trust by 275.9% in the first quarter. Bayforest Capital Ltd now owns 10,118 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 7,426 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Kite Realty Group Trust in the first quarter valued at approximately $1,957,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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.