Kite Realty Group Trust (NYSE:KRG) Receives $27.00 Consensus Price Target from Brokerages

Key Points

• Kite Realty Group Trust (NYSE:KRG) has received an average recommendation of "Hold" from nine brokerage firms, with a consensus 1-year price target of $27.00.
• The company recently reported quarterly earnings of $0.51 per share, equaling analysts' expectations, and has set its FY 2025 guidance at 2.060-2.100 EPS.
• Kite Realty Group Trust is set to pay a quarterly dividend of $0.27 per share on October 16th, representing an annualized yield of 4.7% despite a high payout ratio of 136.71%.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) has been assigned an average recommendation of "Hold" from the eight research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $26.3750.

A number of research firms have recently weighed in on KRG. Wall Street Zen lowered shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Wells Fargo & Company dropped 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 report on Wednesday, August 27th. Piper Sandler reiterated a "neutral" rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. UBS Group started coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price objective for the company. Finally, Raymond James Financial lowered 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 report on Friday, May 23rd.

Kite Realty Group Trust Trading Up 0.5%

Shares of Kite Realty Group Trust stock traded up $0.13 during trading on Monday, reaching $22.89. 506,782 shares of the stock were exchanged, compared to its average volume of 1,866,587. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The stock's fifty day moving average is $22.33 and its 200 day moving average is $22.15. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 6.32 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 - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting analysts' consensus estimates of $0.51. The company 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. 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 firm 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 136.71%.

Institutional Investors Weigh In On Kite Realty Group Trust

Several institutional investors and hedge funds have recently made changes to their positions in KRG. Opal Wealth Advisors LLC bought a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Kite Realty Group Trust during the second quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its position 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 position 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. 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.