Kite Realty Group Trust (NYSE:KRG) Sets New 12-Month High at $24.26

Kite Realty Group Trust (NYSE:KRG) shares reached a new 52-week high on Tuesday . The stock traded as high as $24.26 and last traded at $24.15, with a volume of 578985 shares. The stock had previously closed at $23.99.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KRG shares. Wells Fargo & Company upped their price objective on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Jefferies Financial Group raised 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Hold” and a consensus target price of $26.00.

Kite Realty Group Trust Stock Performance

The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.90. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 91.04, a P/E/G ratio of 6.08 and a beta of 1.31. The company has a 50 day simple moving average of $22.19 and a 200 day simple moving average of $21.59.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Tuesday, July 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Tuesday, July 9th. Kite Realty Group Trust’s dividend payout ratio is currently 384.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Kite Realty Group Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 126,703 shares of the real estate investment trust’s stock valued at $2,745,000 after buying an additional 649 shares during the period. Retirement Systems of Alabama increased its stake in shares of Kite Realty Group Trust by 0.3% in the first quarter. Retirement Systems of Alabama now owns 275,494 shares of the real estate investment trust’s stock valued at $5,973,000 after buying an additional 724 shares during the period. Blue Trust Inc. increased its stake in shares of Kite Realty Group Trust by 41.7% in the fourth quarter. Blue Trust Inc. now owns 2,523 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 742 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Kite Realty Group Trust by 1.5% in the first quarter. UniSuper Management Pty Ltd now owns 62,353 shares of the real estate investment trust’s stock valued at $1,352,000 after buying an additional 900 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Kite Realty Group Trust by 14.0% in the first quarter. Geneos Wealth Management Inc. now owns 9,225 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 1,136 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.