Zacks Investment Research lowered shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a report published on Friday.
According to Zacks, “Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust focused primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. They own interests in a portfolio of operating retail properties, retail properties under development, operating commercial properties, a related parking garage, commercial property under development and parcels of land that may be used for future development. “
Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Kite Realty Group Trust from a hold rating to a buy rating in a report on Friday, October 6th. Robert W. Baird restated a buy rating and issued a $23.00 target price on shares of Kite Realty Group Trust in a report on Thursday, August 24th. Capital One Financial restated an equal weight rating on shares of Kite Realty Group Trust in a report on Tuesday, October 24th. Finally, KeyCorp restated a hold rating on shares of Kite Realty Group Trust in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $25.33.
Shares of Kite Realty Group Trust (NYSE:KRG) traded down $0.01 during midday trading on Friday, reaching $18.93. 491,691 shares of the company’s stock were exchanged, compared to its average volume of 755,651. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $1,580.00, a P/E ratio of 9.28, a P/E/G ratio of 2.06 and a beta of 0.61. Kite Realty Group Trust has a one year low of $17.60 and a one year high of $25.01.
Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $87.10 million for the quarter, compared to the consensus estimate of $88.16 million. Kite Realty Group Trust had a net margin of 3.60% and a return on equity of 0.80%. Kite Realty Group Trust’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. equities analysts anticipate that Kite Realty Group Trust will post 2.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, January 5th will be issued a $0.3175 dividend. The ex-dividend date is Thursday, January 4th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.30. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.71%. Kite Realty Group Trust’s payout ratio is 806.67%.
In other news, CAO Thomas R. Olinger sold 3,157 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $19.01, for a total value of $60,014.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.87% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of Kite Realty Group Trust by 11.5% during the 2nd quarter. SG Americas Securities LLC now owns 5,394 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 557 shares during the period. Zions Bancorporation purchased a new position in shares of Kite Realty Group Trust during the 3rd quarter worth about $111,000. Riverhead Capital Management LLC boosted its stake in shares of Kite Realty Group Trust by 64.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,727 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 2,627 shares during the period. First Mercantile Trust Co. boosted its stake in shares of Kite Realty Group Trust by 14.4% during the 2nd quarter. First Mercantile Trust Co. now owns 6,737 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 850 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in shares of Kite Realty Group Trust by 58.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 6,800 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 2,500 shares during the period. 94.42% of the stock is owned by hedge funds and other institutional investors.
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About Kite Realty Group Trust
Kite Realty Group Trust is a real estate investment trust. The Company, through its subsidiary, Kite Realty Group, L.P., owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of neighborhood and community shopping centers in selected markets in the United States.
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