Barclays reiterated their buy rating on shares of Kite Realty Group Trust (NYSE:KRG) in a report published on Tuesday. Barclays currently has a $19.00 price objective on the real estate investment trust’s stock.
KRG has been the topic of a number of other reports. Citigroup cut their price target on shares of Kite Realty Group Trust from $20.50 to $16.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Raymond James reiterated an outperform rating and issued a $23.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Wednesday, December 20th. Robert W. Baird reiterated a buy rating and issued a $19.00 price target on shares of Kite Realty Group Trust in a research report on Wednesday, March 21st. ValuEngine downgraded shares of Kite Realty Group Trust from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, Capital One raised Kite Realty Group Trust from an equal weight rating to an overweight rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $18.71.
Shares of NYSE:KRG opened at $14.32 on Tuesday. The company has a market capitalization of $1,247.31, a P/E ratio of 7.20, a PEG ratio of 1.76 and a beta of 0.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.05 and a current ratio of 1.05. Kite Realty Group Trust has a fifty-two week low of $13.90 and a fifty-two week high of $22.20.
Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $88.90 million for the quarter, compared to the consensus estimate of $89.14 million. Kite Realty Group Trust had a net margin of 3.31% and a return on equity of 0.74%. Kite Realty Group Trust’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. analysts forecast that Kite Realty Group Trust will post 2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Friday, April 6th were paid a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, April 5th. This represents a $1.27 dividend on an annualized basis and a yield of 8.87%. Kite Realty Group Trust’s payout ratio is 62.25%.
In other Kite Realty Group Trust news, Director William E. Bindley bought 100,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Wurtzebach bought 6,600 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $14.65 per share, with a total value of $96,690.00. The disclosure for this purchase can be found here. 1.93% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Certified Advisory Corp bought a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $137,000. Xact Kapitalforvaltning AB bought a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $202,000. Schroder Investment Management Group bought a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $223,000. Nisa Investment Advisors LLC grew its stake in shares of Kite Realty Group Trust by 80.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,600 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Kite Realty Group Trust by 124.6% during the 4th quarter. Meeder Asset Management Inc. now owns 16,007 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 8,881 shares in the last quarter. 95.18% 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 full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.
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