Kite Realty Group Trust (NYSE:KRG) Given Average Recommendation of “Hold” by Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $17.83.

A number of research firms have issued reports on KRG. ValuEngine cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Citigroup lifted their target price on Kite Realty Group Trust from $16.00 to $19.50 and gave the company a “neutral” rating in a research report on Monday. Zacks Investment Research upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Sandler O’Neill upgraded Kite Realty Group Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Barclays set a $16.00 target price on Kite Realty Group Trust and gave the company a “hold” rating in a research report on Friday, October 11th.

In other news, CEO John A. Kite sold 17,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $15.85, for a total transaction of $269,450.00. Following the sale, the chief executive officer now directly owns 30,610 shares in the company, valued at $485,168.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John A. Kite sold 12,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $18.78, for a total value of $234,750.00. Following the sale, the chief executive officer now owns 26,110 shares in the company, valued at $490,345.80. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Several large investors have recently added to or reduced their stakes in KRG. Phocas Financial Corp. bought a new stake in Kite Realty Group Trust in the second quarter valued at approximately $2,174,000. Advisory Services Network LLC bought a new stake in Kite Realty Group Trust in the second quarter valued at approximately $31,000. Weaver Consulting Group bought a new stake in Kite Realty Group Trust in the second quarter valued at approximately $49,000. HM Payson & Co. bought a new stake in Kite Realty Group Trust in the second quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Kite Realty Group Trust by 227.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,132 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 4,257 shares during the last quarter. Institutional investors own 91.26% of the company’s stock.

Kite Realty Group Trust stock traded down $0.21 during midday trading on Friday, reaching $18.03. The company’s stock had a trading volume of 23,132 shares, compared to its average volume of 586,025. Kite Realty Group Trust has a 52 week low of $13.66 and a 52 week high of $19.77. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $18.56 and a 200-day moving average price of $16.27. The stock has a market cap of $1.56 billion, a PE ratio of 9.01 and a beta of 0.85.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). Kite Realty Group Trust had a negative net margin of 14.39% and a negative return on equity of 3.45%. The business had revenue of $74.94 million during the quarter, compared to the consensus estimate of $76.16 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue was down 12.6% on a year-over-year basis. As a group, research analysts predict that Kite Realty Group Trust will post 1.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.03%. The ex-dividend date of this dividend is Thursday, December 19th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 63.50%.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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

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