Kite Realty Group Trust (NYSE:KRG) Lowered to Hold Rating by Piper Sandler

Piper Sandler cut shares of Kite Realty Group Trust (NYSE:KRG) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on KRG. Robert W. Baird raised their price target on shares of 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. Wells Fargo & Company dropped their price objective on Kite Realty Group Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. KeyCorp raised their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $31.00 to $27.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their price target on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.13.

Kite Realty Group Trust Stock Up 1.6 %

KRG stock opened at $23.32 on Wednesday. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $28.24. The stock has a market cap of $5.12 billion, a P/E ratio of -582.88, a P/E/G ratio of 3.63 and a beta of 1.27. The stock’s fifty day simple moving average is $24.36 and its two-hundred day simple moving average is $25.47. 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 (NYSE:KRG) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a negative return on equity of 0.28% and a negative net margin of 1.18%. Analysts expect that Kite Realty Group Trust will post 2.06 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.63%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,700.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in Kite Realty Group Trust in the third quarter valued at approximately $39,000. Strategic Investment Solutions Inc. IL purchased a new stake in Kite Realty Group Trust during the 3rd quarter valued at $45,000. Versant Capital Management Inc grew its holdings in Kite Realty Group Trust by 551.7% in the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,080 shares during the last quarter. FIL Ltd increased its position in shares of Kite Realty Group Trust by 19.8% in the fourth quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 579 shares during the period. Finally, Spectrum Wealth Counsel LLC bought a new position in shares of Kite Realty Group Trust during the fourth quarter valued at about $101,000. 90.81% of the stock is currently owned by institutional investors.

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.