Kite Realty Group Trust (NYSE:KRG) Sets New 12-Month High – Here’s What Happened

Kite Realty Group Trust (NYSE:KRG) reached a new 52-week high on Tuesday . The stock traded as high as $26.83 and last traded at $26.7560, with a volume of 1829399 shares changing hands. The stock had previously closed at $26.67.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Robert W. Baird boosted their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings raised Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Kite Realty Group Trust has an average rating of “Hold” and an average target price of $26.38.

Kite Realty Group Trust Stock Up 0.3%

The company has a 50-day simple moving average of $25.55 and a 200 day simple moving average of $24.23. The company has a market cap of $5.43 billion, a P/E ratio of 20.12, a P/E/G ratio of 4.12 and a beta of 0.86. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $200.70 million during the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, equities analysts anticipate that Kite Realty Group Trust will post 2.1 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust’s dividend payout ratio is 87.22%.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth $516,000. Candriam S.C.A. purchased a new stake in shares of Kite Realty Group Trust in the 3rd quarter worth $2,066,000. Envestnet Asset Management Inc. lifted its holdings in shares of Kite Realty Group Trust by 22.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 300,382 shares of the real estate investment trust’s stock worth $6,699,000 after buying an additional 54,914 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Kite Realty Group Trust by 9.9% in the 3rd quarter. Centersquare Investment Management LLC now owns 8,130,960 shares of the real estate investment trust’s stock worth $181,320,000 after buying an additional 733,378 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of Kite Realty Group Trust by 227.5% in the 3rd quarter. AlphaQuest LLC now owns 62,930 shares of the real estate investment trust’s stock worth $1,403,000 after buying an additional 43,716 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

About Kite Realty Group Trust

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.