Kite Realty Group Trust (NYSE:KRG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Kite Realty Group Trust (NYSE:KRG) have been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $25.6250.

Several equities analysts have issued reports on KRG shares. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Citigroup reaffirmed a “neutral” rating and set a $24.00 price objective (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, UBS Group restated a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday.

Kite Realty Group Trust Stock Up 1.0%

KRG stock opened at $24.38 on Friday. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $24.54. The stock has a market capitalization of $5.28 billion, a PE ratio of 38.09, a price-to-earnings-growth ratio of 6.05 and a beta of 0.89. 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 company has a fifty day moving average of $23.07 and a 200-day moving average of $22.60.

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

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.8%. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 168.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of Kite Realty Group Trust by 54.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,305 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 462 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Kite Realty Group Trust during the second quarter worth $30,000. First Horizon Corp purchased a new stake in Kite Realty Group Trust during the third quarter worth $30,000. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 740 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC grew its holdings in 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 purchasing an additional 641 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.