Kite Realty Group Trust (NYSE:KRG) Releases Earnings Results, Beats Expectations By $0.35 EPS

Kite Realty Group Trust (NYSE:KRG) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.35, FiscalAI reports. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.The firm had revenue of $204.94 million for the quarter, compared to the consensus estimate of $204.48 million.

Kite Realty Group Trust Trading Up 2.0%

NYSE KRG opened at $25.05 on Tuesday. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $25.19. The firm has a 50 day moving average of $23.79 and a two-hundred day moving average of $22.82. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $5.42 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 6.32 and a beta of 0.91.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 9th were issued a dividend of $0.29 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, January 9th. This represents a $1.16 annualized dividend and a yield of 4.6%. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 181.25%.

Hedge Funds Weigh In On Kite Realty Group Trust

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in Kite Realty Group Trust by 32.2% during the 1st quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock worth $1,797,000 after buying an additional 19,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Kite Realty Group Trust by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock worth $2,893,000 after acquiring an additional 5,666 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 740 shares in the last quarter. California Public Employees Retirement System lifted its stake in Kite Realty Group Trust by 14.5% during the second quarter. California Public Employees Retirement System now owns 385,476 shares of the real estate investment trust’s stock worth $8,731,000 after purchasing an additional 48,935 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Kite Realty Group Trust by 3.2% in the second quarter. Daiwa Securities Group Inc. now owns 77,577 shares of the real estate investment trust’s stock valued at $1,757,000 after purchasing an additional 2,386 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KRG shares. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. UBS Group reaffirmed a “neutral” rating and set a $25.00 target price (up from $24.00) on shares of Kite Realty Group Trust in a research note on Thursday, January 8th. Jefferies Financial Group reiterated a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.43.

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.