Kite Realty Group Trust (NYSE:KRG) Hits New 12-Month High - Here's What Happened

Key Points

• Kite Realty Group Trust hit a new 52-week high, trading as high as $29.50 before closing at $29.42, up from the prior close of $28.55.
• Recent analyst moves were mixed, but the stock still carries a Hold consensus rating with an average price target of $27.71. UBS, Wells Fargo and Ladenburg recently raised their targets, while Wall Street Zen downgraded the shares to sell.
• The REIT’s latest quarter showed EPS of $0.06, missing estimates, though revenue came in slightly above expectations at $200.7 million. It also pays a quarterly dividend of $0.29 per share, which annualizes to a 3.9% yield.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $29.50 and last traded at $29.42, with a volume of 2938451 shares. The stock had previously closed at $28.55.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. LADENBURG THALM/SH SH boosted their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. UBS Group reissued a "neutral" rating and set a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a research report on Thursday, July 9th. Wells Fargo & Company restated an "overweight" rating and set a $29.00 price target (up from $28.00) on shares of Kite Realty Group Trust in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group raised shares of Kite Realty Group Trust to a "hold" rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Kite Realty Group Trust currently has a consensus rating of "Hold" and an average price target of $27.71.

Kite Realty Group Trust Price Performance

The firm has a 50 day moving average price of $27.80 and a two-hundred day moving average price of $25.90. The company has a market cap of $5.97 billion, a P/E ratio of 22.12, a P/E/G ratio of 4.06 and a beta of 0.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.06 and a current ratio of 1.06.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The firm had revenue of $200.70 million during the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. On average, analysts predict that Kite Realty Group Trust will post 2.09 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 9th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, July 9th. Kite Realty Group Trust's dividend payout ratio is presently 87.22%.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Edgestream Partners L.P. bought a new position in shares of Kite Realty Group Trust in the first quarter worth $307,000. Amundi lifted its holdings in Kite Realty Group Trust by 3.2% during the 1st quarter. Amundi now owns 123,135 shares of the real estate investment trust's stock worth $3,023,000 after purchasing an additional 3,858 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Kite Realty Group Trust by 26.0% during the 1st quarter. California State Teachers Retirement System now owns 263,946 shares of the real estate investment trust's stock worth $6,480,000 after purchasing an additional 54,425 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Kite Realty Group Trust by 12.4% in the 1st quarter. Quantinno Capital Management LP now owns 77,778 shares of the real estate investment trust's stock worth $1,909,000 after purchasing an additional 8,557 shares during the period. Finally, SummitTX Capital L.P. boosted its stake in Kite Realty Group Trust by 45.4% in the 1st quarter. SummitTX Capital L.P. now owns 355,188 shares of the real estate investment trust's stock worth $8,720,000 after purchasing an additional 110,852 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 that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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