Kite Realty Group Trust (NYSE:KRG) Updates 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 EPS guidance of 2.060-2.080 for the period, compared to the consensus EPS 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 Ratings Changes

A number of analysts have issued reports on the company. Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 16th. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $23.00 to $26.00 in a report on Wednesday, August 28th. KeyCorp increased 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 report on Tuesday, August 20th. Piper Sandler increased their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Compass Point increased their price target on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Kite Realty Group Trust has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Trading Up 0.5 %

NYSE KRG traded up $0.13 during mid-day trading on Friday, reaching $25.80. 1,745,587 shares of the stock were exchanged, compared to its average volume of 1,591,862. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15. The business’s fifty day simple moving average is $26.08 and its 200 day simple moving average is $23.74. The stock 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. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a yield of 4.19%. 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%.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the stock in a transaction that occurred 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 transaction, the director now owns 732,252 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by 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.