Kite Realty Group Trust (NYSE:KRG) Releases 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 (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.

Kite Realty Group Trust Trading Up 0.5 %

Shares of KRG stock traded up $0.13 during mid-day trading on Friday, reaching $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’s 50 day simple moving average is $26.08 and its 200-day simple moving average is $23.74. Kite Realty Group Trust has a 12-month low of $19.64 and a 12-month high of $27.15. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.67 billion, a PE ratio of -645.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.29.

Kite Realty Group Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.19%. 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. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently -2,600.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KRG. Piper Sandler lifted 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 note on Tuesday, September 3rd. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Robert W. Baird lifted their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. KeyCorp lifted 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 note on Tuesday, August 20th. Finally, Compass Point lifted their price target on shares of 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kite Realty Group Trust has an average rating of “Moderate Buy” and an average price target of $28.00.

Insider Transactions at Kite Realty Group Trust

In other news, Director Steven P. Grimes sold 37,295 shares of Kite Realty Group Trust 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 transaction, the director now owns 732,252 shares in the company, valued at approximately $19,624,353.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

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.