Kite Realty Group Trust (NYSE:KRG) Raised to “Buy” at Citigroup

Citigroup upgraded shares of Kite Realty Group Trust (NYSE:KRGGet Rating) from a neutral rating to a buy rating in a research note published on Monday, MarketBeat.com reports. Citigroup currently has $22.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $20.00.

Several other brokerages have also weighed in on KRG. Capital One Financial reissued an overweight rating on shares of Kite Realty Group Trust in a report on Wednesday, May 25th. Compass Point reduced their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a buy rating for the company in a report on Wednesday, June 22nd. Jefferies Financial Group cut shares of Kite Realty Group Trust from a buy rating to a hold rating in a research note on Thursday, June 30th. StockNews.com cut shares of Kite Realty Group Trust from a hold rating to a sell rating in a research note on Tuesday, August 23rd. Finally, Piper Sandler lowered their price objective on Kite Realty Group Trust to $25.00 in a research note on Monday, July 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $25.75.

Kite Realty Group Trust Stock Down 4.9 %

Shares of KRG opened at $17.77 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day simple moving average of $19.71 and a 200-day simple moving average of $20.33. Kite Realty Group Trust has a 52 week low of $16.68 and a 52 week high of $23.35. The firm has a market capitalization of $3.89 billion, a P/E ratio of -28.66, a P/E/G ratio of 1.15 and a beta of 1.31.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, October 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, October 6th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.21. Kite Realty Group Trust’s dividend payout ratio (DPR) is -135.48%.

Hedge Funds Weigh In On Kite Realty Group Trust

Several institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. raised its position in Kite Realty Group Trust by 4.5% in the 2nd quarter. Federated Hermes Inc. now owns 216,561 shares of the real estate investment trust’s stock valued at $3,744,000 after purchasing an additional 9,273 shares during the last quarter. Prelude Capital Management LLC raised its position in Kite Realty Group Trust by 36.6% in the 2nd quarter. Prelude Capital Management LLC now owns 103,316 shares of the real estate investment trust’s stock valued at $1,786,000 after purchasing an additional 27,662 shares during the last quarter. Captrust Financial Advisors bought a new position in Kite Realty Group Trust in the 2nd quarter valued at $220,000. Legal & General Group Plc raised its position in Kite Realty Group Trust by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 1,565,277 shares of the real estate investment trust’s stock valued at $27,064,000 after purchasing an additional 48,392 shares during the last quarter. Finally, Walleye Capital LLC raised its position in Kite Realty Group Trust by 1,169.4% in the 2nd quarter. Walleye Capital LLC now owns 521,527 shares of the real estate investment trust’s stock valued at $9,017,000 after purchasing an additional 480,441 shares during the last quarter. Institutional investors own 95.73% of the company’s stock.

About Kite Realty Group Trust

(Get Rating)

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 retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.

Further Reading

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

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