Kite Realty Group Trust (NYSE:KRG) Receives $26.50 Average Price Target from Analysts

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

A number of analysts have weighed in on KRG shares. LADENBURG THALM/SH SH started coverage on Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price target on the stock. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $25.00 in a research note on Tuesday. Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Citigroup restated a “neutral” rating and issued 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, UBS Group began coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 target price on the stock.

Kite Realty Group Trust Trading Down 0.7%

NYSE:KRG opened at $22.98 on Tuesday. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.05 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 6.41 and a beta of 1.15. The stock has a fifty day moving average price of $22.33 and a 200 day moving average price of $22.17.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The company had revenue of $211.18 million for the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Sell-side analysts anticipate 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 was paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.7%. Kite Realty Group Trust’s payout ratio is 136.71%.

Insider Activity at Kite Realty Group Trust

In other 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 transaction of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Kite Realty Group Trust

Several institutional investors have recently added to or reduced their stakes in KRG. Smallwood Wealth Investment Management LLC acquired a new position in Kite Realty Group Trust in the 1st quarter valued at about $25,000. Harbor Capital Advisors Inc. increased its position in Kite Realty Group Trust by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 462 shares during the period. Ameritas Advisory Services LLC acquired a new position in Kite Realty Group Trust in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its position in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 740 shares during the period. Finally, UMB Bank n.a. increased its position in Kite Realty Group Trust by 103.0% in the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,323 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.