Kite Realty Group Trust (NYSE:KRG) Given Consensus Rating of “Hold” by Brokerages

Kite Realty Group Trust (NYSE:KRG) has been given a consensus rating of “Hold” by the ten ratings firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $26.50.

KRG has been the topic of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price objective on the stock. UBS Group initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 target price for the company. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Wells Fargo & Company lowered their price target on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $21.96 on Friday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 6.14 and a beta of 1.15. The firm’s 50-day moving average price is $22.22 and its two-hundred day moving average price is $22.16. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $211.18 million for the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, equities analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.9%. Kite Realty Group Trust’s payout ratio is presently 136.71%.

Insider Activity

In related news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares in the company, valued at $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Kite Realty Group Trust by 33.2% during the 3rd quarter. GAMMA Investing LLC now owns 6,019 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 1,499 shares during the period. Corient Private Wealth LLC bought a new position in Kite Realty Group Trust in the second quarter valued at approximately $265,000. Geneos Wealth Management Inc. grew its holdings in Kite Realty Group Trust by 69.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 15,268 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 6,276 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Kite Realty Group Trust by 5.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 494,672 shares of the real estate investment trust’s stock valued at $11,213,000 after acquiring an additional 23,791 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Kite Realty Group Trust by 221.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 31,520 shares of the real estate investment trust’s stock valued at $714,000 after acquiring an additional 21,724 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.