Kite Realty Group Trust (NYSE:KRG) Shares Gap Down to $25.49

Kite Realty Group Trust (NYSE:KRG) gapped down before the market opened on Wednesday . The stock had previously closed at $25.49, but opened at $24.34. Kite Realty Group Trust shares last traded at $25.16, with a volume of 33,956 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on KRG. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, April 18th. Robert W. Baird lifted their price objective on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.00.

Kite Realty Group Trust Stock Performance

The company has a market cap of $5.34 billion, a PE ratio of 93.54, a price-to-earnings-growth ratio of 6.22 and a beta of 1.30. The firm’s fifty day moving average is $22.54 and its 200 day moving average is $21.68. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.90.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.28%. The ex-dividend date is Wednesday, October 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s payout ratio is 384.63%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRG. Pineridge Advisors LLC acquired a new position in shares of Kite Realty Group Trust during the 4th quarter valued at about $39,000. Wolverine Asset Management LLC lifted its position in Kite Realty Group Trust by 280.5% in the fourth quarter. Wolverine Asset Management LLC now owns 1,800 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,327 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at about $42,000. GAMMA Investing LLC lifted its position in Kite Realty Group Trust by 158.2% in the second quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,204 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at about $52,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.