Kite Realty Group Trust (NYSE:KRG) Hits New 12-Month High – Should You Buy?

Kite Realty Group Trust (NYSE:KRG) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.98 and last traded at $26.9750, with a volume of 849052 shares traded. The stock had previously closed at $26.52.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings upgraded shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. UBS Group reaffirmed a “neutral” rating and set a $28.00 price objective (up from $25.00) on shares of Kite Realty Group Trust in a research report on Monday. Robert W. Baird increased their price objective on shares of Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Finally, Wells Fargo & Company raised their target price on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Hold” and an average target price of $26.75.

Kite Realty Group Trust Stock Performance

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 stock has a 50 day moving average of $25.59 and a 200 day moving average of $24.40. The stock has a market capitalization of $5.46 billion, a P/E ratio of 20.22, a P/E/G ratio of 4.05 and a beta of 0.86.

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

Kite Realty Group Trust Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $25,000. Arax Advisory Partners grew its holdings in Kite Realty Group Trust by 182.0% in the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 726 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 740 shares during the period. Bessemer Group Inc. increased its position in Kite Realty Group Trust by 44.4% in the 1st quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 467 shares during the period. Finally, Danske Bank A S bought a new stake in Kite Realty Group Trust during the 3rd quarter valued at $49,000. Institutional investors own 90.81% of the company’s stock.

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.