Kite Realty Group Trust (NYSE:KRG) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Kite Realty Group Trust (NYSE:KRG) from a sell rating to a hold rating in a research report released on Friday morning.

Several other equities analysts have also recently weighed in on KRG. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. LADENBURG THALM/SH SH assumed coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They set a “buy” rating and a $30.00 target price for the company. 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 target price for the company. Wells Fargo & Company cut their target price 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. Finally, Citigroup reaffirmed a “neutral” rating and set a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.50.

Kite Realty Group Trust Stock Performance

Shares of NYSE KRG opened at $22.17 on Friday. The firm has a fifty day moving average price of $22.27 and a 200-day moving average price of $22.16. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market cap of $4.87 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 6.14 and a beta of 1.13. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The firm 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 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 will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 136.71%.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Kite Realty Group Trust

Institutional investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Kite Realty Group Trust in the 1st quarter worth about $25,000. Smallwood Wealth Investment Management LLC bought a new stake in Kite Realty Group Trust during the 1st quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new stake in Kite Realty Group Trust during the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its holdings in Kite Realty Group Trust by 118.4% during 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 buying an additional 740 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Kite Realty Group Trust by 103.0% during 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 buying an additional 1,323 shares in the last quarter. 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.