Kite Realty Group Trust (NYSE:KRG) Receives Consensus Recommendation of “Hold” from Brokerages

Kite Realty Group Trust (NYSE:KRG) has received a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $26.3750.

KRG has been the topic of a number of research reports. UBS Group reiterated a “neutral” rating and issued a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Robert W. Baird boosted their price target on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Citigroup restated a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Kite Realty Group Trust by 29.9% in the fourth quarter. Hsbc Holdings PLC now owns 635,168 shares of the real estate investment trust’s stock worth $15,228,000 after buying an additional 146,264 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Kite Realty Group Trust by 246.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,884 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 2,051 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Kite Realty Group Trust by 12.1% in the fourth quarter. Corient Private Wealth LLC now owns 14,899 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 1,603 shares during the last quarter. Invesco Ltd. increased its holdings in Kite Realty Group Trust by 3.4% in the fourth quarter. Invesco Ltd. now owns 933,097 shares of the real estate investment trust’s stock worth $22,366,000 after buying an additional 30,629 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Kite Realty Group Trust by 30.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,013 shares of the real estate investment trust’s stock worth $719,000 after buying an additional 7,058 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $26.70 on Tuesday. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 4.71 and a beta of 0.88. Kite Realty Group Trust has a fifty-two week low of $20.86 and a fifty-two week high of $26.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50-day moving average is $25.32 and its 200-day moving average is $23.80.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Thursday, April 9th were issued a $0.29 dividend. The ex-dividend date was Thursday, April 9th. This represents a $1.16 dividend on an annualized basis and a yield of 4.3%. Kite Realty Group Trust’s dividend payout ratio is currently 84.06%.

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.