Barclays Reaffirms “Buy” Rating for Kite Realty Group Trust (KRG)

Barclays reissued their buy rating on shares of Kite Realty Group Trust (NYSE:KRG) in a report released on Tuesday. Barclays currently has a $19.00 price target on the real estate investment trust’s stock.

Several other research firms have also recently commented on KRG. Sandler O’Neill set a $16.00 price objective on Kite Realty Group Trust and gave the company a hold rating in a research report on Tuesday, March 20th. DA Davidson cut Kite Realty Group Trust from a buy rating to a neutral rating and set a $16.00 price objective on the stock. in a research report on Monday, February 5th. Bank of America cut Kite Realty Group Trust from a buy rating to a neutral rating in a research report on Friday, February 2nd. ValuEngine cut Kite Realty Group Trust from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Capital One Financial raised Kite Realty Group Trust from an equal weight rating to an overweight rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $18.71.

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Kite Realty Group Trust stock opened at $14.68 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.05 and a current ratio of 1.05. Kite Realty Group Trust has a one year low of $13.90 and a one year high of $22.23. The firm has a market cap of $1,247.31, a P/E ratio of 7.31, a price-to-earnings-growth ratio of 1.76 and a beta of 0.47.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Kite Realty Group Trust had a return on equity of 0.74% and a net margin of 3.31%. The company had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $89.14 million. During the same period last year, the firm posted $0.50 earnings per share. Kite Realty Group Trust’s revenue was up .0% compared to the same quarter last year. equities analysts anticipate that Kite Realty Group Trust will post 2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, April 6th were given a $0.3175 dividend. The ex-dividend date was Thursday, April 5th. This represents a $1.27 annualized dividend and a yield of 8.65%. Kite Realty Group Trust’s payout ratio is 62.25%.

In related news, Director Charles H. Wurtzebach acquired 6,600 shares of the stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $14.65 per share, with a total value of $96,690.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William E. Bindley acquired 100,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were bought at an average cost of $15.06 per share, for a total transaction of $1,506,000.00. Following the completion of the transaction, the director now owns 85,014 shares in the company, valued at $1,280,310.84. The disclosure for this purchase can be found here. Company insiders own 1.93% of the company’s stock.

Several hedge funds have recently bought and sold shares of KRG. BlackRock Inc. lifted its position in shares of Kite Realty Group Trust by 11.8% during the 4th quarter. BlackRock Inc. now owns 13,795,975 shares of the real estate investment trust’s stock valued at $270,402,000 after buying an additional 1,455,741 shares in the last quarter. Cbre Clarion Securities LLC purchased a new position in shares of Kite Realty Group Trust during the 4th quarter valued at about $19,634,000. Coronation Fund Managers Ltd. lifted its position in shares of Kite Realty Group Trust by 132.9% during the 4th quarter. Coronation Fund Managers Ltd. now owns 651,208 shares of the real estate investment trust’s stock valued at $12,764,000 after buying an additional 371,590 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Kite Realty Group Trust by 121.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 487,588 shares of the real estate investment trust’s stock valued at $9,557,000 after buying an additional 267,861 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Kite Realty Group Trust by 9.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,560,852 shares of the real estate investment trust’s stock valued at $50,376,000 after buying an additional 217,020 shares in the last quarter. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

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About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.

Analyst Recommendations for Kite Realty Group Trust (NYSE:KRG)

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