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

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.8750.

A number of analysts have recently commented on KRG shares. Piper Sandler reiterated a “neutral” rating and issued a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. LADENBURG THALM/SH SH assumed coverage on Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price objective on the stock. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Citigroup reissued 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, Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st.

Kite Realty Group Trust Stock Up 2.9%

NYSE:KRG opened at $22.84 on Friday. The firm has a market cap of $4.94 billion, a P/E ratio of 35.68, a P/E/G ratio of 6.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a 50-day simple moving average of $22.27 and a two-hundred day simple moving average of $22.35. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data 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. Kite Realty Group Trust had a return on equity of 4.23% and a net margin of 16.34%.The business had revenue of $205.06 million for the quarter, compared to analysts’ expectations of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. Analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.1%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 181.25%.

Insider Activity at Kite Realty Group Trust

In related news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust 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 completion of the transaction, the chief executive officer owned 54,121 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new stake in shares of Kite Realty Group Trust in the third quarter valued at $525,000. Danske Bank A S purchased a new stake in Kite Realty Group Trust in the 3rd quarter worth about $49,000. DigitalBridge Group Inc. lifted its stake in Kite Realty Group Trust by 3.3% in the third quarter. DigitalBridge Group Inc. now owns 652,300 shares of the real estate investment trust’s stock worth $13,594,000 after purchasing an additional 20,900 shares during the last quarter. Abel Hall LLC bought a new stake in Kite Realty Group Trust in the third quarter worth about $235,000. Finally, Harvest Investment Services LLC boosted its position in shares of Kite Realty Group Trust by 6.5% during the third quarter. Harvest Investment Services LLC now owns 22,308 shares of the real estate investment trust’s stock valued at $497,000 after buying an additional 1,355 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.