Kite Realty Group Trust (NYSE:KRG) Sets New 1-Year High After Better-Than-Expected Earnings

Kite Realty Group Trust (NYSE:KRG) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $25.45 and last traded at $25.31, with a volume of 28738 shares traded. The stock had previously closed at $25.03.

The real estate investment trust reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.35. The firm had revenue of $204.94 million for the quarter, compared to the consensus estimate of $204.48 million. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS.

Kite Realty Group Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 9th were issued a $0.29 dividend. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. Kite Realty Group Trust’s payout ratio is presently 181.25%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. UBS Group reissued a “neutral” rating and set a $25.00 price target (up from $24.00) on shares of Kite Realty Group Trust in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Monday, December 29th. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.43.

Institutional Trading of Kite Realty Group Trust

A number of institutional investors and hedge funds have recently modified their holdings of KRG. Cohen & Steers Inc. raised its position in shares of Kite Realty Group Trust by 26.3% during the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after purchasing an additional 5,486,116 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Kite Realty Group Trust by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock worth $281,229,000 after buying an additional 1,250,549 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Kite Realty Group Trust by 1.3% during the fourth quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust’s stock valued at $197,436,000 after acquiring an additional 105,830 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Kite Realty Group Trust by 6.9% during the third quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust’s stock valued at $142,009,000 after acquiring an additional 411,465 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Kite Realty Group Trust by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,879,464 shares of the real estate investment trust’s stock valued at $133,183,000 after acquiring an additional 40,017 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Kite Realty Group Trust Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 6.32 and a beta of 0.91. The stock has a 50 day moving average price of $23.79 and a 200-day moving average price of $22.82.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.