Kite Realty Group Trust (NYSE:KRG) Receives Consensus Rating of “Hold” from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $26.50.

KRG has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kite Realty Group Trust in a research note on Wednesday, October 8th. 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 research note on Friday, September 12th. Wells Fargo & Company lowered their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Wall Street Zen raised shares of Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price objective for the company.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust 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 transaction, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. The trade was a 48.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KRG. Smallwood Wealth Investment Management LLC purchased a new position in shares of Kite Realty Group Trust in the 1st quarter worth approximately $25,000. Harbor Capital Advisors Inc. increased its holdings in shares of Kite Realty Group Trust by 54.8% during 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 acquiring an additional 462 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Kite Realty Group Trust during the second quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Kite Realty Group Trust by 118.4% during the second 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 in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Kite Realty Group Trust by 103.0% during the second 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 in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Stock Up 1.0%

Shares of KRG opened at $22.54 on Tuesday. The firm has a market capitalization of $4.96 billion, a P/E ratio of 28.53, a P/E/G ratio of 6.18 and a beta of 1.15. 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 fifty day moving average price of $22.24 and a 200-day moving average price of $22.14.

Kite Realty Group Trust (NYSE:KRG) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analyst estimates 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 research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. Kite Realty Group Trust’s payout ratio is presently 136.71%.

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.