ValuEngine upgraded shares of Kite Realty Group Trust (NYSE:KRG) from a sell rating to a hold rating in a report issued on Monday, February 4th.
A number of other brokerages also recently weighed in on KRG. Zacks Investment Research raised Kite Realty Group Trust from a sell rating to a hold rating in a research report on Tuesday, December 11th. Barclays downgraded Kite Realty Group Trust from an overweight rating to an equal weight rating and boosted their price target for the stock from $15.00 to $16.00 in a research report on Monday, February 4th. Finally, Citigroup decreased their target price on Kite Realty Group Trust from $17.00 to $16.50 and set a neutral rating on the stock in a research report on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Kite Realty Group Trust currently has a consensus rating of Hold and an average target price of $16.13.
KRG stock opened at $15.47 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.89 and a current ratio of 1.09. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 2.41 and a beta of 0.86. Kite Realty Group Trust has a 1-year low of $13.66 and a 1-year high of $17.75.
Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Tuesday, February 19th. The real estate investment trust reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $86.90 million for the quarter, compared to analyst estimates of $85.31 million. Kite Realty Group Trust had a negative return on equity of 3.15% and a negative net margin of 13.15%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. Analysts predict that Kite Realty Group Trust will post 1.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 22nd will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 8.21%. The ex-dividend date is Thursday, March 21st. Kite Realty Group Trust’s payout ratio is presently 63.50%.
In other Kite Realty Group Trust news, CFO R Fear Heath bought 7,500 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was purchased at an average cost of $15.79 per share, for a total transaction of $118,425.00. Following the completion of the purchase, the chief financial officer now directly owns 78,883 shares of the company’s stock, valued at $1,245,562.57. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO John A. Kite sold 12,000 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $16.21, for a total transaction of $194,520.00. Following the transaction, the chief executive officer now owns 47,088 shares of the company’s stock, valued at $763,296.48. The disclosure for this sale can be found here. 1.93% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund acquired a new stake in Kite Realty Group Trust during the 4th quarter worth about $32,000. Pearl River Capital LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $37,000. Quantamental Technologies LLC bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $84,000. Meeder Asset Management Inc. boosted its position in shares of Kite Realty Group Trust by 244.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,122 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 5,766 shares in the last quarter. Finally, Advisory Resource Group bought a new position in shares of Kite Realty Group Trust during the 4th quarter worth about $141,000. Institutional investors and hedge funds own 92.71% of the company’s stock.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to tenants in desirable markets through our portfolio of neighborhood, community, and lifestyle centers.
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