Robert W. Baird Forecasts Strong Price Appreciation for Kite Realty Group Trust (NYSE:KRG) Stock

Kite Realty Group Trust (NYSE:KRG) had its price target increased by Robert W. Baird from $26.00 to $29.00 in a research report sent to investors on Friday,Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on the stock. KeyCorp boosted their price objective on shares of Kite Realty Group Trust from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday. Compass Point upped their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a research note on Friday, August 16th. Piper Sandler lifted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.86.

Kite Realty Group Trust Trading Down 0.6 %

Shares of Kite Realty Group Trust stock traded down $0.15 on Friday, reaching $26.69. The company had a trading volume of 1,862,346 shares, compared to its average volume of 1,599,319. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -667.25, a P/E/G ratio of 4.16 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.08 and a quick ratio of 3.08. The firm’s 50-day moving average price is $26.31 and its two-hundred day moving average price is $24.15. Kite Realty Group Trust has a 1 year low of $19.64 and a 1 year high of $27.94.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. The ex-dividend date is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. Kite Realty Group Trust’s dividend payout ratio is currently -2,600.00%.

Insider Activity at Kite Realty Group Trust

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently modified their holdings of KRG. UMB Bank n.a. grew its holdings in Kite Realty Group Trust by 819.0% in the third quarter. UMB Bank n.a. now owns 1,066 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 950 shares during the period. GAMMA Investing LLC raised its position in shares of Kite Realty Group Trust by 158.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,965 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,204 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Kite Realty Group Trust in the 3rd quarter worth about $45,000. Quarry LP increased its stake in Kite Realty Group Trust by 108.4% during the 2nd quarter. Quarry LP now owns 2,244 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,167 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter valued at approximately $52,000. Hedge funds and other institutional investors 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.