Kite Realty Group Trust (NYSE:KRG) Sets New 12-Month High – Here’s What Happened

Shares of Kite Realty Group Trust (NYSE:KRG) reached a new 52-week high on Tuesday . The company traded as high as $26.83 and last traded at $26.7560, with a volume of 1829399 shares trading hands. The stock had previously closed at $26.67.

Wall Street Analysts Forecast Growth

KRG has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Citigroup reissued a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Tuesday, February 24th. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings raised Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Finally, Robert W. Baird boosted their price target on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.38.

Kite Realty Group Trust Trading Up 0.3%

The stock has a fifty day moving average of $25.55 and a 200 day moving average of $24.23. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $5.43 billion, a PE ratio of 20.12, a PEG ratio of 4.12 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.The business had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $198.37 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, sell-side analysts predict that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust’s dividend payout ratio is 87.22%.

Institutional Trading of Kite Realty Group Trust

Several hedge funds have recently modified their holdings of KRG. Cohen & Steers Inc. raised its holdings in shares of Kite Realty Group Trust by 26.3% during the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after acquiring an additional 5,486,116 shares in the last quarter. Norges Bank bought a new position in shares of Kite Realty Group Trust during the 4th quarter valued at approximately $61,863,000. Lasalle Investment Management Securities LLC increased its position in shares of Kite Realty Group Trust by 177.3% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock valued at $62,779,000 after purchasing an additional 1,799,866 shares during the last quarter. Deutsche Bank AG increased its position in shares of Kite Realty Group Trust by 434.7% during the 4th quarter. Deutsche Bank AG now owns 1,719,375 shares of the real estate investment trust’s stock valued at $41,213,000 after purchasing an additional 1,397,837 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Kite Realty Group Trust by 171.0% during the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock valued at $38,756,000 after purchasing an additional 1,079,727 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Company Profile

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.