Kite Realty Group Trust (NYSE:KRG) Stock Has Average Target Price of $27.78 According to Brokerages

Kite Realty Group Trust (NYSE:KRG) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $27.78.

Several brokerages have commented on KRG. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. KeyCorp lowered shares of Kite Realty Group Trust from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 18th. LADENBURG THALM/SH SH boosted their price target on Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $27.00 price objective (down from $33.00) on shares of Kite Realty Group Trust in a research report on Monday, October 12th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $31.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research note on Monday, August 3rd.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $25.48 on Friday. Kite Realty Group Trust has a twelve month low of $21.89 and a twelve month high of $29.92. The firm has a market cap of $5.04 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 4.67 and a beta of 0.90. The business has a fifty day moving average of $25.03 and a 200-day moving average of $26.12. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.61 and a current ratio of 0.92.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Friday, October 30th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.15). Kite Realty Group Trust had a return on equity of 11.78% and a net margin of 42.95%. The firm had revenue of $190.28 million during the quarter, compared to the consensus estimate of $195.62 million. On average, equities research analysts predict that Kite Realty Group Trust will post 2.10 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Saturday, January 9th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 8th. Kite Realty Group Trust’s payout ratio is currently 71.60%.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in the business. Aberdeen Group plc raised its holdings in shares of Kite Realty Group Trust by 5.8% during the third quarter. Aberdeen Group plc now owns 94,509 shares of the real estate investment trust’s stock valued at $2,305,000 after purchasing an additional 5,200 shares during the last quarter. Keybank National Association OH lifted its stake in shares of Kite Realty Group Trust by 54.7% in the 3rd quarter. Keybank National Association OH now owns 22,538 shares of the real estate investment trust’s stock worth $550,000 after acquiring an additional 7,967 shares during the period. Csenge Advisory Group boosted its holdings in shares of Kite Realty Group Trust by 16.7% during the third quarter. Csenge Advisory Group now owns 11,850 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 1,692 shares during the last quarter. M&G PLC acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth approximately $253,000. Finally, Fulcrum Asset Management LLP increased its stake in shares of Kite Realty Group Trust by 3,419.0% during the third quarter. Fulcrum Asset Management LLP now owns 1,478 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 1,436 shares during the period. 90.81% of the stock is currently owned by institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that owns, operates, acquires, develops and redevelops open-air shopping centers in the United States. Its properties are primarily grocery-anchored and neighborhood shopping centers designed to serve daily consumer needs.

The company’s tenant base includes grocery stores, restaurants, service providers, fitness operators, retailers and other businesses. Kite Realty focuses on well-located properties in established and growing communities, with an emphasis on maintaining diversified centers that attract recurring customer traffic.

Headquartered in Indianapolis, Indiana, Kite Realty expanded its portfolio through the 2021 merger with Retail Properties of America, Inc The company’s operations extend across multiple U.S.