Kite Realty Group Trust (KRG) Cut to Hold at ValuEngine
ValuEngine cut shares of Kite Realty Group Trust (NYSE:KRG) from a buy rating to a hold rating in a research report released on Sunday.
Several other research analysts have also weighed in on KRG. Zacks Investment Research lowered shares of Kite Realty Group Trust from a hold rating to a sell rating in a research note on Tuesday, October 24th. Capital One Financial reissued an equal weight rating on shares of Kite Realty Group Trust in a research note on Tuesday, October 24th. Finally, Raymond James Financial reissued an outperform rating and set a $23.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $23.80.
Kite Realty Group Trust (NYSE KRG) traded down $0.24 during trading on Friday, reaching $19.72. 606,900 shares of the company traded hands, compared to its average volume of 595,600. Kite Realty Group Trust has a twelve month low of $17.60 and a twelve month high of $24.52. The company has a market cap of $1,650.00, a price-to-earnings ratio of 131.47, a price-to-earnings-growth ratio of 2.14 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, January 5th will be paid a $0.3175 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.27 dividend on an annualized basis and a yield of 6.44%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.30. Kite Realty Group Trust’s payout ratio is presently 806.67%.
In other Kite Realty Group Trust news, CAO Thomas R. Olinger sold 3,157 shares of Kite Realty Group Trust stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.01, for a total value of $60,014.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas K. Mcgowan sold 5,000 shares of Kite Realty Group Trust stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $19.22, for a total transaction of $96,100.00. Following the completion of the transaction, the chief operating officer now directly owns 86,751 shares in the company, valued at approximately $1,667,354.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,157 shares of company stock worth $497,645. Insiders own 1.87% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KRG. Sorin Capital Management LLC acquired a new stake in shares of Kite Realty Group Trust in the second quarter valued at approximately $16,845,000. Macquarie Group Ltd. increased its holdings in Kite Realty Group Trust by 51.5% during the second quarter. Macquarie Group Ltd. now owns 2,113,325 shares of the real estate investment trust’s stock worth $40,006,000 after buying an additional 718,197 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Kite Realty Group Trust by 55.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,218,437 shares of the real estate investment trust’s stock worth $24,674,000 after buying an additional 436,465 shares during the last quarter. Prudential PLC acquired a new position in Kite Realty Group Trust during the second quarter worth $7,824,000. Finally, Timbercreek Asset Management Ltd. acquired a new position in Kite Realty Group Trust during the second quarter worth $6,527,000. Institutional investors own 94.32% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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