Kite Realty Group Trust (NYSE:KRG) Now Covered by LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH has initiated coverage of Kite Realty Group Trust (NYSE:KRG) with a "buy" rating and a price target of $30.00, suggesting a potential upside of 31.38% from its current price.
• Despite the positive outlook from LADENBURG, other analysts have issued mixed ratings, with a consensus rating of "Hold" and an average price target of $26.78 across nine analysts.
• Kite Realty Group Trust reported a quarterly earnings per share (EPS) of $0.51, matching analysts' expectations, while its stock is currently trading at $22.84, down 1.8% on the day.

LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust (NYSE:KRG - Free Report) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $30.00 price target on the real estate investment trust's stock.

Several other brokerages also recently commented on KRG. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Raymond James Financial reduced their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd. Piper Sandler reaffirmed a "neutral" rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wells Fargo & Company cut their target price on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Finally, UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Kite Realty Group Trust Trading Down 0.8%

Shares of KRG stock traded down $0.17 during trading hours on Tuesday, hitting $22.56. 1,934,112 shares of the company were exchanged, compared to its average volume of 1,497,176. The firm has a market cap of $4.96 billion, a P/E ratio of 28.55, a P/E/G ratio of 6.30 and a beta of 1.13. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The company has a 50 day simple moving average of $22.33 and a two-hundred day simple moving average of $22.18.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $211.18 million during the quarter, compared to the consensus estimate 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 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 136.71%.

Insider Activity

In related news, CEO John A. Kite sold 50,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value of $1,135,000.00. Following the transaction, the chief executive officer directly owned 54,121 shares in the company, valued at $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 available at this link. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kite Realty Group Trust

Several large investors have recently bought and sold shares of KRG. Centersquare Investment Management LLC lifted its stake in Kite Realty Group Trust by 133.6% during the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock valued at $133,327,000 after acquiring an additional 3,408,442 shares in the last quarter. Nuveen LLC bought a new position in Kite Realty Group Trust during the 1st quarter valued at $70,071,000. Norges Bank bought a new position in Kite Realty Group Trust during the 2nd quarter valued at $65,504,000. Long Pond Capital LP bought a new position in Kite Realty Group Trust during the 1st quarter valued at $60,616,000. Finally, JPMorgan Chase & Co. lifted its stake in Kite Realty Group Trust by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust's stock valued at $281,229,000 after acquiring an additional 1,250,549 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.