Kite Realty Group Trust (NYSE:KRG) PT Set at $16.00 by Barclays

Barclays set a $16.00 target price on Kite Realty Group Trust (NYSE:KRG) in a report issued on Friday, TipRanks reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. ValuEngine raised shares of Kite Realty Group Trust from a strong sell rating to a sell rating in a research report on Wednesday, September 11th. Zacks Investment Research cut shares of Kite Realty Group Trust from a hold rating to a sell rating in a research report on Wednesday, October 9th. DA Davidson reissued a neutral rating on shares of Kite Realty Group Trust in a research report on Monday, July 29th. Finally, Compass Point raised shares of Kite Realty Group Trust from a sell rating to a neutral rating and boosted their price target for the company from $13.50 to $14.50 in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Kite Realty Group Trust currently has an average rating of Hold and a consensus price target of $15.88.

Shares of KRG opened at $16.49 on Friday. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $17.20. The stock has a market cap of $1.36 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 2.00 and a beta of 0.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a fifty day moving average price of $15.59 and a 200 day moving average price of $15.61.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Kite Realty Group Trust had a negative net margin of 6.92% and a negative return on equity of 1.66%. The firm had revenue of $81.48 million during the quarter, compared to analysts’ expectations of $79.95 million. During the same period in the previous year, the company earned $0.53 earnings per share. Kite Realty Group Trust’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, equities analysts expect that Kite Realty Group Trust will post 1.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a $0.317 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.69%. Kite Realty Group Trust’s payout ratio is 63.50%.

In other news, CEO John A. Kite sold 17,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $15.85, for a total value of $269,450.00. Following the completion of the sale, the chief executive officer now directly owns 30,610 shares of the company’s stock, valued at $485,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.07% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in shares of Kite Realty Group Trust by 18.4% during the second quarter. Prudential Financial Inc. now owns 872,977 shares of the real estate investment trust’s stock worth $13,208,000 after acquiring an additional 135,766 shares during the period. Arizona State Retirement System increased its stake in shares of Kite Realty Group Trust by 0.7% during the second quarter. Arizona State Retirement System now owns 130,204 shares of the real estate investment trust’s stock worth $1,970,000 after acquiring an additional 896 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Kite Realty Group Trust by 20.0% during the second quarter. Pictet Asset Management Ltd. now owns 16,200 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 2,700 shares during the period. Susquehanna International Group LLP increased its stake in shares of Kite Realty Group Trust by 105.3% during the second quarter. Susquehanna International Group LLP now owns 30,175 shares of the real estate investment trust’s stock worth $457,000 after acquiring an additional 15,475 shares during the period. Finally, Weaver Consulting Group acquired a new position in shares of Kite Realty Group Trust during the second quarter worth about $49,000. 90.21% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

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Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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