Kite Realty Group Trust (NYSE:KRG) Price Target Raised to $29.00

Kite Realty Group Trust (NYSE:KRG) had its price objective upped by Robert W. Baird from $26.00 to $29.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on KRG. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point lifted their price objective on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler increased their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. KeyCorp raised their target price on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Stock Performance

Shares of KRG stock opened at $26.69 on Friday. The business has a fifty day moving average of $26.31 and a 200 day moving average of $24.17. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -667.25, a price-to-earnings-growth ratio of 4.07 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be issued a $0.27 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. Kite Realty Group Trust’s payout ratio is presently -2,600.00%.

Insider Activity

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KRG. UMB Bank n.a. increased its holdings in Kite Realty Group Trust by 819.0% in the 3rd quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 950 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,204 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Kite Realty Group Trust during the third quarter worth about $45,000. Quarry LP raised its position in shares of Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,167 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new position in Kite Realty Group Trust in the 1st quarter valued at about $52,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Company Profile

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.