Kite Realty Group Trust (NYSE:KRG) Given Average Rating of "Hold" by Analysts

Key Points

• Kite Realty Group Trust has received an average analyst rating of "Hold", with ten ratings firms contributing to this consensus—seven hold, two buy, and one strong buy.
• The stock currently has a price target among brokerages averaging $26.50, with notable adjustments including a downgrade from Citigroup from $28.00 to $24.00.
• The company announced a quarterly dividend of $0.27 per share, yielding 4.9%, with the payment date set for October 16th and an ex-dividend date of October 9th.

Shares of Kite Realty Group Trust (NYSE:KRG - Get Free Report) have received a consensus recommendation of "Hold" from the ten ratings firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.50.

KRG has been the subject of several recent research reports. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They set a "buy" rating and a $30.00 price target for the company. Wells Fargo & Company decreased their price target on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Citigroup reiterated a "neutral" rating and set a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Wall Street Zen downgraded Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, UBS Group initiated coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target for the company.

Kite Realty Group Trust Trading Down 0.6%

Shares of Kite Realty Group Trust stock opened at $21.99 on Friday. The stock has a fifty day simple moving average of $22.27 and a 200 day simple moving average of $22.15. Kite Realty Group Trust has a 12-month low of $18.51 and a 12-month high of $28.24. The company has a market capitalization of $4.83 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 6.13 and a beta of 1.13. 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 (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The business had revenue of $211.18 million during 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. On average, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend 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 company's 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 completion of the transaction, the chief executive officer owned 54,121 shares in the company, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Kite Realty Group Trust in the 1st quarter valued at $25,000. Smallwood Wealth Investment Management LLC bought a new position in Kite Realty Group Trust in the 1st quarter valued at $25,000. Ameritas Advisory Services LLC bought a new position in Kite Realty Group Trust in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC grew 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 purchasing an additional 740 shares during the period. Finally, UMB Bank n.a. grew its stake in Kite Realty Group Trust by 103.0% in 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 purchasing an additional 1,323 shares during the period. Institutional investors own 90.81% of the company's stock.

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.

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