Today, Kite Realty Group Trust (KRG) Stock Rating Upgrade by The Zacks Investment Research

Today, Kite Realty Group Trust (KRG) Stock Rating Upgrade by The Zacks Investment Research
Kite Realty Group Trust (NYSE:KRG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “

Several other equities analysts also recently issued reports on KRG. Barclays PLC initiated coverage on shares of Kite Realty Group Trust in a report on Friday, July 22nd. They set an “overweight” rating and a $33.00 price objective on the stock. Hilliard Lyons downgraded shares of Kite Realty Group Trust from a “buy” rating to a “neutral” rating in a report on Monday, August 1st. Finally, BTIG Research initiated coverage on shares of Kite Realty Group Trust in a report on Thursday, August 25th. They set a “buy” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.00.

Kite Realty Group Trust (NYSE:KRG) remained flat at $24.34 during midday trading on Wednesday. 771,693 shares of the stock were exchanged. The stock has a market capitalization of $2.03 billion, a P/E ratio of 811.33 and a beta of 0.75. Kite Realty Group Trust has a 52 week low of $23.47 and a 52 week high of $30.45. The stock’s 50-day moving average price is $25.21 and its 200-day moving average price is $27.37.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The business had revenue of $89.10 million for the quarter, compared to the consensus estimate of $88.39 million. Kite Realty Group Trust had a net margin of 2.67% and a return on equity of 0.56%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, analysts expect that Kite Realty Group Trust will post $2.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, January 6th will be paid a $0.3025 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.29. This represents a $1.21 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Wednesday, January 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 2,875.72%.

Several institutional investors have recently bought and sold shares of KRG. Vanguard Group Inc. boosted its stake in Kite Realty Group Trust by 3.9% in the second quarter. Vanguard Group Inc. now owns 12,886,638 shares of the company’s stock valued at $361,213,000 after buying an additional 479,646 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Kite Realty Group Trust by 8.8% in the third quarter. BlackRock Fund Advisors now owns 6,400,941 shares of the company’s stock valued at $177,434,000 after buying an additional 517,985 shares during the last quarter. State Street Corp boosted its stake in Kite Realty Group Trust by 0.7% in the second quarter. State Street Corp now owns 2,919,736 shares of the company’s stock valued at $81,841,000 after buying an additional 19,011 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Kite Realty Group Trust by 16.0% in the third quarter. Bank of New York Mellon Corp now owns 2,257,529 shares of the company’s stock valued at $62,578,000 after buying an additional 310,978 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Kite Realty Group Trust by 1.2% in the third quarter. Northern Trust Corp now owns 1,616,152 shares of the company’s stock valued at $44,799,000 after buying an additional 18,539 shares during the last quarter. 92.72% of the stock is currently owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary Kite Realty Group, L.P., holds interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in certain markets in the United States.

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