Kite Realty Group Trust (NYSE:KRG) Receives $25.88 Consensus Target Price from Analysts

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

KRG has been the topic of a number of research reports. Raymond James Financial lowered Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Piper Sandler reiterated a “neutral” rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target for the company. Finally, Citigroup reaffirmed a “neutral” rating and issued a $24.00 price objective (down from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th.

Insiders Place Their Bets

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds have recently modified their holdings of the stock. Centersquare Investment Management LLC grew its holdings in 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 worth $133,327,000 after acquiring an additional 3,408,442 shares during the period. Nuveen LLC purchased a new stake in Kite Realty Group Trust in the 1st quarter worth approximately $70,071,000. Norges Bank acquired a new stake in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $65,504,000. Long Pond Capital LP acquired a new stake in shares of Kite Realty Group Trust during the 1st quarter worth approximately $60,616,000. Finally, Lasalle Investment Management Securities LLC increased its holdings in shares of Kite Realty Group Trust by 177.3% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock valued at $62,779,000 after purchasing an additional 1,799,866 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Down 2.2%

NYSE:KRG opened at $22.01 on Friday. The company has a market capitalization of $4.76 billion, a P/E ratio of 34.38, a PEG ratio of 6.16 and a beta of 1.13. 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 has a 12 month low of $18.51 and a 12 month high of $28.24. The firm has a fifty day simple moving average of $22.29 and a 200-day simple moving average of $22.35.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results 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 firm had revenue of $205.06 million for the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be given a dividend of $0.29 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s payout ratio is presently 181.25%.

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.