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

Jefferies Financial Group upgraded shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a buy rating in a report published on Thursday, Marketbeat.com reports. The firm currently has $23.00 price target on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on the company. StockNews.com upgraded Kite Realty Group Trust from a sell rating to a hold rating in a research note on Thursday, February 22nd. Piper Sandler increased their price objective on Kite Realty Group Trust from $28.00 to $30.00 and gave the company an overweight rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $25.50.

Kite Realty Group Trust Stock Up 2.3 %

Shares of NYSE KRG opened at $20.56 on Thursday. The stock has a market cap of $4.51 billion, a P/E ratio of 93.46, a PEG ratio of 2.89 and a beta of 1.29. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a 12-month low of $19.16 and a 12-month high of $24.26. The business’s fifty day simple moving average is $21.03 and its 200-day simple moving average is $21.36.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, April 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Thursday, April 4th. Kite Realty Group Trust’s dividend payout ratio is presently 454.57%.

Institutional Trading of Kite Realty Group Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. CENTRAL TRUST Co raised its stake in Kite Realty Group Trust by 91.4% in the third quarter. CENTRAL TRUST Co now owns 1,675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 800 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in shares of Kite Realty Group Trust by 515.9% during the fourth quarter. Bell Investment Advisors Inc now owns 1,318 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,104 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Kite Realty Group Trust during the first quarter worth about $33,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Kite Realty Group Trust by 107.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,631 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 846 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new position in shares of Kite Realty Group Trust during the fourth quarter worth about $39,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Company Profile

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.