Kite Realty Group Trust (NYSE:KRG) Given New $29.00 Price Target at Robert W. Baird

by · The Markets Daily

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

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

View Our Latest Report on KRG

Kite Realty Group Trust Stock Down 0.6 %

NYSE:KRG traded down $0.15 during midday trading on Friday, hitting $26.69. 1,862,346 shares of the company were exchanged, compared to its average volume of 1,599,319. The company has a market capitalization of $5.86 billion, a PE ratio of -667.25, a price-to-earnings-growth ratio of 4.16 and a beta of 1.29. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.94. The company has a fifty day simple moving average of $26.31 and a 200 day simple moving average of $24.15. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97.

Kite Realty Group Trust Increases Dividend

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

Insider Activity at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the business’s stock in a transaction 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 sale, the director now directly owns 732,252 shares in the company, valued at approximately $19,624,353.60. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. raised its position in Kite Realty Group Trust by 819.0% during the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares in the last quarter. GAMMA Investing LLC lifted its position in Kite Realty Group Trust by 158.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,204 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust in the third quarter worth approximately $45,000. Quarry LP boosted its stake in Kite Realty Group Trust by 108.4% in the second quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new position in Kite Realty Group Trust during the first quarter valued at approximately $52,000. Institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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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.

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