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

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

Kite Realty Group Trust Stock Performance

Kite Realty Group Trust stock opened at $25.05 on Tuesday. The firm has a 50 day simple moving average of $23.79 and a 200-day simple moving average of $22.82. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 6.32 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $25.19.

Kite Realty Group Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were paid a $0.29 dividend. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.6%. Kite Realty Group Trust’s dividend payout ratio is currently 181.25%.

Analyst Ratings Changes

KRG has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating and issued a $24.00 target price (up previously from $23.00) on shares of Kite Realty Group Trust in a research report on Monday, December 15th. Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Raymond James Financial cut shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Monday, December 29th. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $25.43.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its position in Kite Realty Group Trust by 2.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,636 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 499 shares during the period. Mariner LLC lifted its holdings in shares of Kite Realty Group Trust by 2.7% in the 4th quarter. Mariner LLC now owns 39,469 shares of the real estate investment trust’s stock worth $946,000 after acquiring an additional 1,031 shares during the last quarter. Focus Partners Wealth boosted its position in shares of Kite Realty Group Trust by 108.6% during the 4th quarter. Focus Partners Wealth now owns 175,387 shares of the real estate investment trust’s stock worth $4,204,000 after purchasing an additional 91,313 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Kite Realty Group Trust by 12.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 208,658 shares of the real estate investment trust’s stock valued at $5,002,000 after purchasing an additional 22,404 shares during the last quarter. Finally, Arax Advisory Partners raised its position in Kite Realty Group Trust by 182.0% in the fourth quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 726 shares during the period. 90.81% of the stock is currently 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.