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

Kite Realty Group Trust (NYSE:KRG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.060-2.080 for the period, compared to the consensus earnings per share 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.

Kite Realty Group Trust Price Performance

Shares of KRG traded up $0.13 during mid-day trading on Friday, reaching $25.80. The stock had a trading volume of 1,745,587 shares, compared to its average volume of 1,591,862. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -645.00, a PEG ratio of 3.98 and a beta of 1.29. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.15. The business has a fifty day moving average of $26.08 and a 200 day moving average of $23.74. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be given a $0.27 dividend. This is a positive change 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%. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently -2,600.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KRG shares. KeyCorp upped their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler upped their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Raymond James upgraded shares of 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 research report on Friday, August 16th. Compass Point upped their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Robert W. Baird upped their target price on shares of 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 investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Insider Buying and Selling at Kite Realty Group Trust

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the completion of the transaction, the director now owns 732,252 shares in the company, valued at $19,624,353.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

Kite Realty Group Trust Company Profile

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.