According to a recent report by Bloomberg, Kite Realty Group Trust (NYSE: KRG) has received an average recommendation of “Hold” from seven analysts who are currently covering the stock. The stock has been given one sell rating, three hold ratings, and three buy ratings by these analysts. Furthermore, brokers who have issued ratings on the stock in the last year have set an average target price of $25.86 for the next twelve months.
Institutional investors have also made some notable changes to their positions in Kite Realty Group Trust recently. Raymond James & Associates increased its position in the company by 32.3% during the first quarter, adding an additional 28,495 shares to its portfolio. Similarly, Raymond James Financial Services Advisors Inc. grew its position by 14.5% during the same period, acquiring 8,554 more shares of Kite Realty Group Trust.
PNC Financial Services Group Inc. saw a significant increase in its stake in the real estate investment trust during Q1 as well. The company lifted its holdings by 18.9%, adding 1,067 shares to its portfolio and bringing its total ownership to 6,700 shares worth $153,000.
Natixis Advisors L.P., on the other hand, made a new investment in Kite Realty Group Trust during Q1 valued at approximately $448,000. Additionally, Bank of Montreal Can increased its holdings by 16.8% during this period with the acquisition of an additional 3,760 shares.
Hedge funds and other institutional investors now account for around 97.22% of Kite Realty Group Trust’s stock ownership.
Kite Realty Group Trust is a prominent real estate investment trust based in Indianapolis, IN that specializes in open-air shopping centers and mixed-use assets. As one of the largest publicly traded owners and operators in this sector, the company primarily focuses on grocery-anchored properties situated in high-growth Sun Belt regions and select strategic gateway markets.
These recent developments in analyst recommendations and institutional investor positions provide valuable insights into the current market sentiment surrounding Kite Realty Group Trust. Investors and stakeholders can utilize this information to make well-informed decisions regarding their investment strategies moving forward.
Please note that all the information shared in this article is based on data available as of October 2, 2023.
Mixed Opinions and High Dividend Payout: Analyzing Kite Realty Group Trust’s Performance
Kite Realty Group Trust, a real estate investment trust (REIT) based in Indianapolis, IN, has recently received attention from research analysts. StockNews.com initiated coverage on the company and assigned a “hold” rating to its stock on August 17th. Barclays, meanwhile, increased its price target for Kite Realty Group Trust from $27.00 to $28.00 in a report published on June 21st. Raymond James then downgraded the company from a “strong-buy” rating to a “market perform” rating on September 5th. Wells Fargo & Company raised its target price for Kite Realty Group Trust from $20.00 to $23.00 and gave it an “underweight” rating on August 9th. Finally, Bank of America raised its price objective for the stock from $26.00 to $28.00 and issued a “buy” rating in a report released on August 22nd.
As of October 2nd, Kite Realty Group Trust’s shares (NYSE: KRG) opened at $21.42 with a market capitalization of $4.70 billion and a price-to-earnings ratio of 178.51. The company’s portfolio primarily consists of grocery-anchored properties located in high-growth Sun Belt and strategic gateway markets.
The stock has experienced varying degrees of performance over the past year, reaching a low of $16.75 and a high of $24.26 during this period. With a beta of 1.40, Kite Realty Group Trust is generally more volatile compared to the overall market which carries an industry-standard beta value of 1.
Furthermore, the company recently announced its plans to distribute quarterly dividends to shareholders with payment scheduled for October 13th. Shareholders who held their positions as of October 6th will receive a dividend payout of $0.24 per share, representing an annualized dividend of $0.96 and a dividend yield of 4.48%. It is important to note that the company’s current dividend payout ratio stands at an astonishingly high 800.07%.
In conclusion, Kite Realty Group Trust has attracted mixed opinions from research analysts, with some maintaining a hold rating while others suggesting a buy or sell position. The company’s performance in the real estate sector should be closely monitored by investors given the potential for volatility and its exposure to the competitive open-air shopping center and mixed-use asset markets.