Kite Realty Group Trust (NYSE:KRG) Given Average Rating of “Hold” by Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.8750.

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 8th. Citigroup reissued a “neutral” rating and issued a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Finally, Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, November 11th.

Kite Realty Group Trust Stock Up 1.0%

KRG stock opened at $23.33 on Wednesday. The firm has a market cap of $5.05 billion, a PE ratio of 36.45, a P/E/G ratio of 5.88 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s fifty day moving average is $22.47 and its 200 day moving average is $22.40. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $26.74.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.27%. The business had revenue of $205.06 million during the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, research analysts forecast that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is presently 168.75%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in shares of Kite Realty Group Trust by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Kite Realty Group Trust during the 2nd quarter worth $30,000. First Horizon Corp purchased a new stake in shares of Kite Realty Group Trust during the third quarter worth $30,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $31,000 after buying an additional 740 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC raised its position in shares of Kite Realty Group Trust by 57.9% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,748 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 641 shares during the last quarter. Institutional investors and hedge funds 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.