Kite Realty Group Trust (NYSE:KRG) Receives $25.50 Average PT from Brokerages

Kite Realty Group Trust (NYSE:KRG) has been given an average rating of “Hold” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $25.50.

A number of brokerages recently issued reports on KRG. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 29th. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target on the stock. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $25.00 in a research note on Tuesday, October 21st. Finally, Citigroup reaffirmed a “neutral” rating and set a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th.

Institutional Trading of Kite Realty Group Trust

Several institutional investors have recently added to or reduced their stakes in KRG. State of Wyoming raised its holdings in Kite Realty Group Trust by 136.1% during the 1st quarter. State of Wyoming now owns 4,712 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 2,716 shares during the last quarter. EP Wealth Advisors LLC raised its stake in Kite Realty Group Trust by 21.2% during the first quarter. EP Wealth Advisors LLC now owns 11,825 shares of the real estate investment trust’s stock worth $265,000 after buying an additional 2,071 shares during the last quarter. Amundi raised its stake in Kite Realty Group Trust by 7.1% during the first quarter. Amundi now owns 125,896 shares of the real estate investment trust’s stock worth $2,719,000 after buying an additional 8,297 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Kite Realty Group Trust by 32.2% in the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock valued at $1,797,000 after buying an additional 19,731 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kite Realty Group Trust by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock valued at $2,893,000 after acquiring an additional 5,666 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Kite Realty Group Trust Stock Up 0.8%

Shares of NYSE:KRG opened at $23.93 on Friday. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $24.69. The company has a market capitalization of $5.18 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 5.95 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 $22.98 and a 200-day moving average of $22.58.

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 return on equity of 4.27% and a net margin of 16.34%.The business had revenue of $205.06 million for the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

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

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.