Kite Realty Group Trust (NYSE:KRG) Now Covered by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust (NYSE:KRG) in a research report report published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $30.00 price objective on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. 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 objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, Raymond James Financial dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and a consensus target price of $26.78.

Kite Realty Group Trust Stock Down 0.3%

KRG stock opened at $22.75 on Tuesday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 28.79, a P/E/G ratio of 6.32 and a beta of 1.13. The firm has a 50-day simple moving average of $22.35 and a 200-day simple moving average of $22.17. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $211.18 million during 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. Equities analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio is currently 136.71%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the 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 completion of the sale, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Kite Realty Group Trust

Several hedge funds have recently made changes to their positions in KRG. Ameriprise Financial Inc. grew its stake in shares of Kite Realty Group Trust by 9.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,210,594 shares of the real estate investment trust’s stock valued at $30,555,000 after buying an additional 102,665 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Kite Realty Group Trust by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 77,983 shares of the real estate investment trust’s stock valued at $1,968,000 after buying an additional 24,201 shares during the period. Captrust Financial Advisors grew its stake in shares of Kite Realty Group Trust by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 613 shares during the period. Cetera Investment Advisers grew its stake in shares of Kite Realty Group Trust by 27.9% in the 4th quarter. Cetera Investment Advisers now owns 19,374 shares of the real estate investment trust’s stock valued at $489,000 after buying an additional 4,227 shares during the period. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $246,000. 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.