Kite Realty Group Trust (NYSE:KRG) Issues FY24 Earnings Guidance

Kite Realty Group Trust (NYSE:KRG) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.06-2.08 for the period, compared to the consensus EPS estimate of $2.06. Kite Realty Group Trust also updated its FY 2024 guidance to 2.060-2.080 EPS.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Compass Point boosted their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Friday, August 16th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler upped their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird upped their target price on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Kite Realty Group Trust Stock Up 0.5 %

Shares of KRG stock traded up $0.13 during trading hours on Friday, reaching $25.80. 1,745,587 shares of the company’s stock were exchanged, compared to its average volume of 1,591,862. The stock’s 50 day moving average is $26.08 and its 200-day moving average is $23.74. The company has a market cap of $5.67 billion, a price-to-earnings ratio of -645.00, a P/E/G ratio of 3.98 and a beta of 1.29. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.19%. Kite Realty Group Trust’s dividend payout ratio is presently -2,700.00%.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $26.80, for a total transaction of $999,506.00. Following the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.