Kite Realty Group Trust (NYSE:KRG) Updates FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KRG. Compass Point increased their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler increased their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp raised their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird increased their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Kite Realty Group Trust Stock Up 0.5 %

Shares of NYSE:KRG traded up $0.13 during trading on Friday, hitting $25.80. The company’s stock had a trading volume of 1,745,587 shares, compared to its average volume of 1,591,862. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.08 and a current ratio of 2.08. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The stock’s 50-day moving average price is $26.08 and its two-hundred day moving average price is $23.74. The company has a market capitalization of $5.67 billion, a PE ratio of -645.00, a PEG ratio of 3.98 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 4.19%. Kite Realty Group Trust’s dividend payout ratio is -2,600.00%.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $26.80, for a total value of $999,506.00. Following the completion of the sale, the director now directly owns 732,252 shares in the company, valued at $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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.