Kite Realty Group Trust (NYSE:KRG) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Kite Realty Group Trust (NYSE:KRG)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.54 and traded as high as $24.20. Kite Realty Group Trust shares last traded at $23.98, with a volume of 1,541,436 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price for the company. Wells Fargo & Company raised Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Jefferies Financial Group restated a “hold” rating and set a $24.00 target price (up previously from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.50.

Kite Realty Group Trust Price Performance

The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 6.04 and a beta of 0.89. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average price of $22.92 and a 200 day moving average price of $22.55.

Kite Realty Group Trust (NYSE:KRG) last issued 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 business had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.8%. 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 presently 168.75%.

Hedge Funds Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its position in shares of Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Kite Realty Group Trust during the second quarter worth $30,000. First Horizon Corp acquired a new stake in shares of Kite Realty Group Trust during the third quarter worth $30,000. EverSource Wealth Advisors LLC increased its holdings in Kite Realty Group Trust by 118.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 740 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC lifted its stake in Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 641 shares during the period. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.