KeyCorp Increases Kite Realty Group Trust (NYSE:KRG) Price Target to $31.00

Kite Realty Group Trust (NYSE:KRG) had its price target increased by KeyCorp from $28.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

KRG has been the topic of several other research reports. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. Robert W. Baird raised their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. 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 objective on the stock in a report on Friday, August 16th. Piper Sandler upped their price objective on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Compass Point lifted their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

Kite Realty Group Trust Stock Down 0.6 %

KRG stock opened at $26.69 on Tuesday. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.94. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.97. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -667.25, a PEG ratio of 4.16 and a beta of 1.29. The firm has a 50-day moving average of $26.28 and a two-hundred day moving average of $24.12.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. Kite Realty Group Trust’s payout ratio is -2,600.00%.

Insider Activity

In related news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the sale, the director now owns 732,252 shares in the company, valued at $19,624,353.60. This represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kite Realty Group Trust by 0.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,141 shares of the real estate investment trust’s stock worth $2,554,000 after buying an additional 483 shares in the last quarter. State of Alaska Department of Revenue grew its position in Kite Realty Group Trust by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 128,378 shares of the real estate investment trust’s stock worth $3,408,000 after buying an additional 484 shares during the period. Marcum Wealth LLC grew its position in Kite Realty Group Trust by 1.4% during the third quarter. Marcum Wealth LLC now owns 40,855 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 571 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Kite Realty Group Trust by 2.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 23,688 shares of the real estate investment trust’s stock valued at $629,000 after buying an additional 671 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Kite Realty Group Trust by 2.6% during the 3rd quarter. FMR LLC now owns 28,610 shares of the real estate investment trust’s stock valued at $760,000 after acquiring an additional 737 shares during the period. 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.