Kite Realty Group Trust's (KRG) Neutral Rating Reiterated at Citigroup

Key Points

• Citigroup has reiterated a "neutral" rating for Kite Realty Group Trust (KRG) with a reduced price target of $24.00, down from $28.00, indicating a potential upside of 5.40% from its current price.
• Kite Realty Group Trust reported earnings of $0.51 per share for the last quarter, meeting analyst expectations, with revenue slightly below forecasts at $211.18 million.
• Insider trading revealed that CEO John A. Kite sold 50,000 shares at $22.70 each, representing a 48.02% decrease in his ownership of the stock.

Kite Realty Group Trust (NYSE:KRG - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at Citigroup in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $24.00 price target on the real estate investment trust's stock, down from their prior price target of $28.00. Citigroup's price objective would suggest a potential upside of 5.40% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. Piper Sandler reissued a "neutral" rating and set a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Wells Fargo & Company decreased their price target 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. LADENBURG THALM/SH SH began coverage on Kite Realty Group Trust in a report on Tuesday. They set a "buy" rating and a $30.00 price target on the stock. Raymond James Financial decreased their price target on 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. Finally, UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.50.

Kite Realty Group Trust Price Performance

Shares of Kite Realty Group Trust stock opened at $22.77 on Friday. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The stock's fifty day moving average is $22.34 and its 200 day moving average is $22.18. The stock has a market cap of $5.01 billion, a P/E ratio of 28.82, a P/E/G ratio of 6.26 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70.

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

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction 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 trade represents a 48.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Kite Realty Group Trust by 69.8% in the second quarter. Geneos Wealth Management Inc. now owns 15,268 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 6,276 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Kite Realty Group Trust by 5.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 494,672 shares of the real estate investment trust's stock worth $11,213,000 after acquiring an additional 23,791 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Kite Realty Group Trust by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 31,520 shares of the real estate investment trust's stock worth $714,000 after acquiring an additional 21,724 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Kite Realty Group Trust in the second quarter worth about $265,000. Finally, Lazard Asset Management LLC grew its position in Kite Realty Group Trust by 4.1% in the second quarter. Lazard Asset Management LLC now owns 49,448 shares of the real estate investment trust's stock worth $1,119,000 after acquiring an additional 1,955 shares in the last quarter. Hedge funds and other 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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