Wells Fargo & Company Lowers Kite Realty Group Trust (NYSE:KRG) Price Target to $24.00

Kite Realty Group Trust (NYSE:KRG) had its price objective trimmed by Wells Fargo & Company from $26.00 to $24.00 in a report published on Wednesday morning, MarketBeat Ratings reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group lowered shares of Kite Realty Group Trust from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $31.00 to $27.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Kite Realty Group Trust from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Raymond James reduced their price objective on shares of Kite Realty Group Trust from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, March 10th. Finally, Piper Sandler restated a “neutral” rating and set a $25.00 price objective (down previously from $33.00) on shares of Kite Realty Group Trust in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average target price of $27.88.

Kite Realty Group Trust Stock Down 1.4 %

Shares of KRG opened at $22.27 on Wednesday. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $28.24. The business’s 50 day moving average is $22.73 and its 200 day moving average is $24.85. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $4.89 billion, a PE ratio of 1,113.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.30.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.08 by $0.45. Kite Realty Group Trust had a net margin of 0.48% and a return on equity of 0.12%. Research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Wednesday, April 9th. Kite Realty Group Trust’s dividend payout ratio is presently 5,400.00%.

Institutional Trading of Kite Realty Group Trust

Several institutional investors have recently modified their holdings of KRG. EMC Capital Management boosted its holdings in Kite Realty Group Trust by 4.9% in the 4th quarter. EMC Capital Management now owns 9,600 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 447 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Kite Realty Group Trust by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 18,436 shares of the real estate investment trust’s stock worth $465,000 after acquiring an additional 466 shares during the last quarter. Optiver Holding B.V. increased its position in shares of Kite Realty Group Trust by 19.9% during the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 467 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kite Realty Group Trust by 0.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock valued at $2,554,000 after purchasing an additional 483 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in Kite Realty Group Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 63,750 shares of the real estate investment trust’s stock valued at $1,609,000 after purchasing an additional 516 shares in the last quarter. 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.