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 traded up $0.13 during trading hours on Friday, reaching $25.80. 1,745,587 shares of the company traded hands, compared to its average volume of 1,591,862. The company’s fifty 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 price-to-earnings ratio of -645.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.29. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 12 month low of $19.64 and a 12 month high of $27.15.

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 paid a dividend of $0.27 per share. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.19%. Kite Realty Group Trust’s payout ratio is presently -2,600.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective 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 boosted their price objective 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. Piper Sandler boosted their price objective 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 boosted their price objective for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Finally, Raymond James raised shares of Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Insiders Place Their Bets

In other news, Director Steven P. Grimes sold 37,295 shares of the business’s 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 completion of the transaction, the director now directly owns 732,252 shares of the company’s stock, valued at $19,624,353.60. The trade was 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 at the SEC website. Corporate 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.