Kite Realty Group Trust (NYSE:KRG) Price Target Raised to $26.00 at Robert W. Baird

Kite Realty Group Trust (NYSE:KRG) had its price target boosted by Robert W. Baird from $25.00 to $26.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on KRG. Jefferies Financial Group upgraded shares of Kite Realty Group Trust from a hold rating to a buy rating and set a $23.00 target price for the company in a research note on Thursday, April 18th. Wells Fargo & Company boosted their target price on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the company an underweight rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust has a consensus rating of Hold and a consensus price target of $26.00.

Kite Realty Group Trust Stock Down 1.8 %

NYSE:KRG opened at $24.33 on Wednesday. The company has a market cap of $5.34 billion, a PE ratio of 93.58, a P/E/G ratio of 6.25 and a beta of 1.31. Kite Realty Group Trust has a twelve month low of $19.64 and a twelve month high of $25.56. The company has a current ratio of 2.08, a quick ratio of 2.72 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $22.61 and its two-hundred day moving average is $21.69.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.27%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds and other institutional investors have recently bought and sold shares of KRG. Vanguard Group Inc. increased its position in shares of Kite Realty Group Trust by 2.7% during the first quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock valued at $728,391,000 after acquiring an additional 881,502 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Kite Realty Group Trust by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock valued at $76,448,000 after acquiring an additional 90,897 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Kite Realty Group Trust by 28.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock valued at $71,326,000 after acquiring an additional 693,852 shares during the last quarter. Norges Bank acquired a new stake in shares of Kite Realty Group Trust during the fourth quarter valued at about $52,746,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Kite Realty Group Trust by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after purchasing an additional 32,493 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.