Brokerages Set Kite Realty Group Trust (NYSE:KRG) Price Target at $26.50

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average rating of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $26.70.

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Kite Realty Group Trust in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. UBS Group assumed coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a “neutral” rating and a $24.00 price target on the stock. Citigroup reaffirmed a “neutral” rating and set a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target on the stock.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $23.00 on Tuesday. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 6.35 and a beta of 1.15. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24. The company’s 50-day moving average price is $22.39 and its 200 day moving average price is $22.24. 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 (NYSE:KRG) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $211.18 million for the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John A. Kite sold 50,000 shares of the firm’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 sale, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at approximately $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. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KRG. Centersquare Investment Management LLC raised its stake in shares of Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock valued at $133,327,000 after purchasing an additional 3,408,442 shares during the period. Nuveen LLC purchased a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $70,071,000. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the second quarter valued at approximately $65,504,000. Long Pond Capital LP purchased a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $60,616,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Kite Realty Group Trust by 11.2% during the second quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock valued at $281,229,000 after purchasing an additional 1,250,549 shares during the period. Hedge funds and other 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.