Kite Realty Group Trust (NYSE:KRG) Given New $33.00 Price Target at Piper Sandler

Kite Realty Group Trust (NYSE:KRG) had its price target increased by Piper Sandler from $30.00 to $33.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an underweight rating to an equal weight rating and lifted their target price for the company from $23.00 to $26.00 in a research note on Wednesday, August 28th. 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. KeyCorp lifted their price objective on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the company an overweight rating in a research note on Tuesday, August 20th. Finally, 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, July 31st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $28.00.

Kite Realty Group Trust Trading Down 0.8 %

Shares of NYSE:KRG opened at $25.67 on Tuesday. The firm has a fifty day moving average of $24.20 and a two-hundred day moving average of $22.29. The firm has a market capitalization of $5.64 billion, a P/E ratio of 98.85, a price-to-earnings-growth ratio of 3.99 and a beta of 1.29. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $26.33. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 9th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, October 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. Kite Realty Group Trust’s dividend payout ratio (DPR) is 400.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in Kite Realty Group Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock worth $2,745,000 after acquiring an additional 649 shares during the period. Retirement Systems of Alabama raised its holdings in Kite Realty Group Trust by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock worth $5,973,000 after acquiring an additional 724 shares during the period. United Services Automobile Association raised its holdings in Kite Realty Group Trust by 4.6% in the 2nd quarter. United Services Automobile Association now owns 17,781 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 777 shares during the period. UniSuper Management Pty Ltd raised its holdings in Kite Realty Group Trust by 1.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock worth $1,352,000 after acquiring an additional 900 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Kite Realty Group Trust by 42.7% during the 2nd quarter. Blue Trust Inc. now owns 3,314 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 992 shares during the period. Institutional investors 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.