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

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

Other research analysts have also issued research reports about the stock. Robert W. Baird raised 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. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an underweight rating to an equal weight rating and lifted their price target for the stock from $23.00 to $26.00 in a research report on Wednesday, August 28th. Raymond James upgraded shares of Kite Realty Group Trust from a market perform rating to a strong-buy rating and set a $28.00 price target on the stock in a research report on Friday, August 16th. Finally, KeyCorp lifted their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an overweight rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $28.00.

Kite Realty Group Trust Price Performance

NYSE KRG opened at $25.67 on Tuesday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $26.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $5.64 billion, a PE ratio of 98.85, a P/E/G ratio of 3.99 and a beta of 1.29. The company’s 50 day simple moving average is $24.20 and its 200 day simple moving average is $22.29.

Kite Realty Group Trust Increases Dividend

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

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Kite Realty Group Trust by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after purchasing an additional 881,502 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kite Realty Group Trust by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,344,191 shares of the real estate investment trust’s stock worth $76,448,000 after purchasing an additional 90,897 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kite Realty Group Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock worth $73,442,000 after purchasing an additional 190,380 shares during the period. Balyasny Asset Management L.P. boosted its stake in Kite Realty Group Trust by 28.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after purchasing an additional 693,852 shares during the period. Finally, Millennium Management LLC boosted its stake in Kite Realty Group Trust by 17.7% in the 2nd quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock worth $57,427,000 after purchasing an additional 386,566 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Company Profile

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.