Kite Realty Group Trust (NYSE:KRG) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research report released on Friday morning.

KRG has been the subject of several other research reports. Wells Fargo & Company reduced their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Piper Sandler reiterated a “neutral” rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. UBS Group began coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a “neutral” rating and a $24.00 target price for the company. Finally, Raymond James Financial dropped their target price on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Kite Realty Group Trust presently has an average rating of “Hold” and an average price target of $26.38.

Kite Realty Group Trust Stock Up 1.1%

Kite Realty Group Trust stock opened at $23.28 on Friday. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 6.38 and a beta of 1.13. The firm’s fifty day moving average price is $22.34 and its two-hundred day moving average price is $22.16. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, equities research analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.6%. Kite Realty Group Trust’s dividend payout ratio is currently 136.71%.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the transaction, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. This represents a 48.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kite Realty Group Trust

Several institutional investors have recently made changes to their positions in KRG. M&T Bank Corp increased its holdings in Kite Realty Group Trust by 52.5% in the 1st quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust’s stock worth $1,244,000 after acquiring an additional 19,132 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Kite Realty Group Trust by 332.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust’s stock worth $33,776,000 after acquiring an additional 1,160,694 shares in the last quarter. GAMMA Investing LLC grew its holdings in Kite Realty Group Trust by 1,523.9% during the 1st quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust’s stock valued at $1,739,000 after buying an additional 72,949 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter valued at approximately $795,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Kite Realty Group Trust by 27.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust’s stock valued at $1,331,000 after buying an additional 12,696 shares in the last quarter. Institutional investors own 90.81% 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.