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

Posted by Defense World Staff on Sep 7th, 2023

Kite Realty Group Trust (NYSE:KRG – Get Free Report) has been given an average rating of “Hold” by the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $25.38.

A number of analysts recently weighed in on KRG shares. Raymond James downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Bank of America upped their target price on Kite Realty Group Trust from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Wells Fargo & Company upped their target price on Kite Realty Group Trust from $20.00 to $23.00 and gave the company an “underweight” rating in a report on Wednesday, August 9th. StockNews.com began coverage on Kite Realty Group Trust in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Barclays upped their price target on Kite Realty Group Trust from $27.00 to $28.00 in a research note on Wednesday, June 21st.

View Our Latest Stock Report on KRG

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors have recently modified their holdings of KRG. BlackRock Inc. lifted its holdings in Kite Realty Group Trust by 12.4% in the first quarter. BlackRock Inc. now owns 34,531,664 shares of the real estate investment trust’s stock valued at $722,402,000 after acquiring an additional 3,818,524 shares during the period. Vanguard Group Inc. lifted its holdings in Kite Realty Group Trust by 1.2% in the first quarter. Vanguard Group Inc. now owns 32,761,306 shares of the real estate investment trust’s stock valued at $745,974,000 after acquiring an additional 378,764 shares during the period. State Street Corp lifted its holdings in Kite Realty Group Trust by 15.0% in the first quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust’s stock valued at $300,695,000 after acquiring an additional 1,726,009 shares during the period. JPMorgan Chase & Co. lifted its holdings in Kite Realty Group Trust by 46.9% in the second quarter. JPMorgan Chase & Co. now owns 13,107,744 shares of the real estate investment trust’s stock valued at $292,827,000 after acquiring an additional 4,182,590 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Kite Realty Group Trust by 16.6% in the second quarter. Macquarie Group Ltd. now owns 8,943,429 shares of the real estate investment trust’s stock valued at $154,637,000 after acquiring an additional 1,275,585 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Performance

Shares of KRG opened at $22.29 on Thursday. The stock has a 50-day moving average price of $22.79 and a 200-day moving average price of $21.35. The company has a market cap of $4.89 billion, a PE ratio of 185.72, a price-to-earnings-growth ratio of 2.29 and a beta of 1.40. Kite Realty Group Trust has a 12-month low of $16.42 and a 12-month high of $24.26. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.79.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, October 6th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.31%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 800.07%.

Kite Realty Group Trust Company Profile

(Get Free Report

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.