LADENBURG THALM/SH SH Initiates Coverage on Kite Realty Group Trust (NYSE:KRG)

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 report sent to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $30.00 price target on the real estate investment trust's stock.

Several other research analysts also recently weighed in on KRG. Piper Sandler reiterated a "neutral" rating and issued a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. 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. UBS Group began coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Finally, Raymond James Financial reduced their price target on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Hold" and an average price target of $26.50.

Kite Realty Group Trust Stock Performance

KRG stock traded down $0.17 on Tuesday, hitting $22.56. The company had a trading volume of 1,934,112 shares, compared to its average volume of 1,497,176. 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 stock has a market cap of $4.96 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 6.30 and a beta of 1.13. The stock's 50-day simple moving average is $22.33 and its 200 day simple moving average is $22.18.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The business had revenue of $211.18 million for the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, equities research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's payout ratio is 136.71%.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the business'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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kite Realty Group Trust

Large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its position in Kite Realty Group Trust by 52.5% in the 1st quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust's stock valued at $1,244,000 after buying an additional 19,132 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock valued at $33,776,000 after buying an additional 1,160,694 shares during the period. GAMMA Investing LLC boosted its position in Kite Realty Group Trust by 1,523.9% in the 1st quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust's stock valued at $1,739,000 after buying an additional 72,949 shares during the period. SG Americas Securities LLC purchased a new stake in Kite Realty Group Trust in the 1st quarter valued at about $795,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Kite Realty Group Trust by 27.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust's stock valued at $1,331,000 after purchasing an additional 12,696 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.