Kite Realty Group Trust (NYSE:KRG) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a buy rating in a research note released on Thursday, Marketbeat Ratings reports. The brokerage currently has $23.00 target price on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on KRG. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $28.00 to $30.00 and gave the stock an overweight rating in a research report on Wednesday, December 20th. StockNews.com raised shares of Kite Realty Group Trust from a sell rating to a hold rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $25.50.

Kite Realty Group Trust Stock Up 2.3 %

Shares of Kite Realty Group Trust stock opened at $20.56 on Thursday. The company has a fifty day moving average price of $21.03 and a 200 day moving average price of $21.36. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a twelve month low of $19.16 and a twelve month high of $24.26. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 93.46, a price-to-earnings-growth ratio of 2.89 and a beta of 1.29.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, April 5th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 4th. This represents a $1.00 dividend on an annualized basis and a yield of 4.86%. Kite Realty Group Trust’s dividend payout ratio is currently 454.57%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of institutional investors have recently added to or reduced their stakes in KRG. BlackRock Inc. lifted its holdings in Kite Realty Group Trust by 12.4% in the 1st quarter. BlackRock Inc. now owns 34,531,664 shares of the real estate investment trust’s stock worth $722,402,000 after buying an additional 3,818,524 shares in the last quarter. Norges Bank acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at about $52,746,000. State Street Corp raised its stake in shares of Kite Realty Group Trust by 15.0% in the 1st quarter. State Street Corp now owns 13,205,735 shares of the real estate investment trust’s stock valued at $300,695,000 after purchasing an additional 1,726,009 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Kite Realty Group Trust by 16.6% in the 2nd quarter. Macquarie Group Ltd. now owns 8,943,429 shares of the real estate investment trust’s stock valued at $154,637,000 after purchasing an additional 1,275,585 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of Kite Realty Group Trust by 156.6% in the 4th quarter. Strs Ohio now owns 1,869,278 shares of the real estate investment trust’s stock valued at $42,731,000 after purchasing an additional 1,140,700 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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.