Brokerages Set Kite Realty Group Trust (KRG) Target Price at $21.00

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.00.

KRG has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Kite Realty Group Trust from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Citigroup reduced their price objective on shares of Kite Realty Group Trust from $20.50 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday. Zacks Investment Research cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Capital One Financial reaffirmed an “equal weight” rating on shares of Kite Realty Group Trust in a research note on Tuesday, October 24th. Finally, ValuEngine cut shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd.

Kite Realty Group Trust (NYSE:KRG) traded down $0.26 on Tuesday, reaching $14.24. 255,727 shares of the company’s stock were exchanged, compared to its average volume of 723,524. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 1.09. Kite Realty Group Trust has a 12-month low of $14.22 and a 12-month high of $24.38. The firm has a market cap of $1,257.44, a price-to-earnings ratio of 103.57, a PEG ratio of 1.75 and a beta of 0.42.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. Kite Realty Group Trust had a net margin of 3.31% and a return on equity of 0.74%. The firm had revenue of $88.90 million during the quarter, compared to analyst estimates of $89.14 million. During the same quarter in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. equities analysts forecast that Kite Realty Group Trust will post 2.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, January 5th were paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 8.92%. The ex-dividend date of this dividend was Thursday, January 4th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.30. Kite Realty Group Trust’s payout ratio is currently 907.14%.

In other Kite Realty Group Trust news, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $20.09, for a total value of $341,530.00. Following the completion of the transaction, the chief executive officer now owns 52,712 shares of the company’s stock, valued at approximately $1,058,984.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William E. Bindley purchased 100,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $15.06 per share, with a total value of $1,506,000.00. Following the purchase, the director now owns 85,014 shares in the company, valued at $1,280,310.84. The disclosure for this purchase can be found here. In the last three months, insiders sold 25,157 shares of company stock valued at $497,645. Corporate insiders own 1.87% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank grew its stake in Kite Realty Group Trust by 1.0% in the 2nd quarter. Amalgamated Bank now owns 11,312 shares of the real estate investment trust’s stock worth $214,000 after buying an additional 109 shares in the last quarter. Wells Fargo & Company MN boosted its position in Kite Realty Group Trust by 3.4% during the second quarter. Wells Fargo & Company MN now owns 64,972 shares of the real estate investment trust’s stock worth $1,230,000 after purchasing an additional 2,166 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Kite Realty Group Trust by 58.1% during the second quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 2,500 shares in the last quarter. Rhumbline Advisers boosted its position in Kite Realty Group Trust by 1.5% during the third quarter. Rhumbline Advisers now owns 182,908 shares of the real estate investment trust’s stock worth $3,704,000 after purchasing an additional 2,769 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Kite Realty Group Trust by 3.1% during the third quarter. Public Employees Retirement System of Ohio now owns 96,169 shares of the real estate investment trust’s stock worth $1,947,000 after purchasing an additional 2,881 shares in the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

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Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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