Kite Realty Group Trust (NYSE:KRG) Receives Consensus Rating of “Hold” from Analysts

Shares of Kite Realty Group Trust (NYSE:KRG) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $25.8750.

A number of research firms have issued reports on KRG. Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Piper Sandler restated a “neutral” rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Citigroup reaffirmed a “neutral” rating and set a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Thursday.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $22.48 on Friday. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a fifty day moving average price of $22.31 and a 200 day moving average price of $22.34. The company has a market cap of $4.87 billion, a P/E ratio of 35.12, a PEG ratio of 6.16 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $205.06 million during the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s dividend payout ratio is 181.25%.

Insider Activity at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the sale, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at approximately $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Centersquare Investment Management LLC lifted its position in Kite Realty Group Trust by 133.6% in the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after purchasing an additional 3,408,442 shares during the period. Nuveen LLC bought a new stake in shares of Kite Realty Group Trust in the 1st quarter worth $70,071,000. Norges Bank bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth $65,504,000. Long Pond Capital LP acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at $60,616,000. Finally, Lasalle Investment Management Securities LLC boosted its stake in Kite Realty Group Trust by 177.3% during the third quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock valued at $62,779,000 after buying an additional 1,799,866 shares in the last quarter. Institutional investors 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.