Kite Realty Group Trust (NYSE:KRG) Sets New 12-Month Low – Should You Sell?

Kite Realty Group Trust (NYSE:KRG) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $19.28 and last traded at $19.40, with a volume of 3622577 shares traded. The stock had previously closed at $20.21.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and set a $25.00 target price (down from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of Kite Realty Group Trust from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Raymond James dropped their target price on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, March 10th. Finally, Jefferies Financial Group lowered Kite Realty Group Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $31.00 to $27.00 in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.88.

Kite Realty Group Trust Trading Down 4.0 %

The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.97. The stock has a market cap of $4.26 billion, a PE ratio of 969.75, a PEG ratio of 3.57 and a beta of 1.05. The stock’s fifty day moving average price is $22.50 and its 200 day moving average price is $24.63.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. On average, sell-side analysts forecast that Kite Realty Group Trust will post 2.05 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. Investors of record on Wednesday, April 9th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.57%. Kite Realty Group Trust’s payout ratio is 5,400.00%.

Institutional Trading of Kite Realty Group Trust

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth $39,000. Versant Capital Management Inc increased its holdings in shares of Kite Realty Group Trust by 551.7% during the 4th quarter. Versant Capital Management Inc now owns 2,457 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,080 shares in the last quarter. Optiver Holding B.V. increased its holdings in Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 467 shares in the last quarter. FIL Ltd raised its holdings in Kite Realty Group Trust by 19.8% in the 4th quarter. FIL Ltd now owns 3,500 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 579 shares during the period. Finally, Spectrum Wealth Counsel LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter worth approximately $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.