Kite Realty Group Trust (NYSE:KRG) Given Average Rating of “Hold” by Brokerages

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

KRG has been the topic of several analyst reports. Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday. LADENBURG THALM/SH SH initiated coverage on 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. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st.

Institutional Investors Weigh In On Kite Realty Group Trust

Several hedge funds have recently bought and sold shares of KRG. Harbor Capital Advisors Inc. raised its stake in Kite Realty Group Trust by 54.8% in the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 462 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Kite Realty Group Trust during the 2nd quarter worth approximately $30,000. First Horizon Corp acquired a new position in shares of Kite Realty Group Trust during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its stake 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, Smallwood Wealth Investment Management LLC lifted its holdings in Kite Realty Group Trust by 57.9% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 641 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Up 2.0%

NYSE:KRG opened at $22.61 on Wednesday. The stock has a 50-day simple moving average of $22.41 and a 200 day simple moving average of $22.37. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $26.81. The company has a market cap of $4.89 billion, a PE ratio of 35.32, a PEG ratio of 5.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.The firm had revenue of $205.06 million during 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, sell-side analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be paid a $0.29 dividend. This is an increase 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 5.1%. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is 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.