JPMorgan Chase & Co. Lowers Kite Realty Group Trust (NYSE:KRG) Price Target to $27.00

Kite Realty Group Trust (NYSE:KRG) had its target price reduced by JPMorgan Chase & Co. from $30.00 to $27.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on KRG. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $27.00 in a report on Thursday, January 2nd. Robert W. Baird lifted their price objective on Kite Realty Group Trust from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, KeyCorp lifted their price objective on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and an average target price of $29.13.

Kite Realty Group Trust Price Performance

KRG opened at $22.84 on Wednesday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -571.00, a PEG ratio of 3.17 and a beta of 1.29. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $28.24. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $25.93 and a 200 day moving average price of $25.42.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, January 10th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, January 10th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 4.73%. Kite Realty Group Trust’s dividend payout ratio (DPR) is -2,700.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Kite Realty Group Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,679,153 shares of the real estate investment trust’s stock valued at $150,865,000 after purchasing an additional 43,015 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Kite Realty Group Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,651,857 shares of the real estate investment trust’s stock valued at $96,993,000 after purchasing an additional 173,290 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kite Realty Group Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after purchasing an additional 190,380 shares in the last quarter. Millennium Management LLC boosted its holdings in Kite Realty Group Trust by 17.7% during the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after purchasing an additional 386,566 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Kite Realty Group Trust by 51.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,982,182 shares of the real estate investment trust’s stock worth $50,684,000 after acquiring an additional 673,976 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.