Kite Realty Group Trust (NYSE:KRG) Reaches New 12-Month High – Here’s What Happened

Kite Realty Group Trust (NYSE:KRG) shares reached a new 52-week high during trading on Thursday . The company traded as high as $29.50 and last traded at $29.42, with a volume of 2938451 shares traded. The stock had previously closed at $28.55.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KRG shares. UBS Group restated a “neutral” rating and issued a $30.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday, July 9th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $29.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday, May 26th. Jefferies Financial Group raised shares of Kite Realty Group Trust to a “hold” rating in a research note on Friday, June 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Kite Realty Group Trust in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Kite Realty Group Trust presently has an average rating of “Hold” and a consensus price target of $27.71.

Kite Realty Group Trust Stock Up 0.4%

The business’s 50 day simple moving average is $27.92 and its 200 day simple moving average is $25.97. The company has a market capitalization of $6.01 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 4.17 and a beta of 0.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $198.37 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, analysts forecast that Kite Realty Group Trust will post 2.09 EPS for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 9th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, July 9th. Kite Realty Group Trust’s payout ratio is presently 87.22%.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. increased its holdings 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 valued at $630,805,000 after acquiring an additional 5,486,116 shares during the last quarter. Norges Bank acquired a new stake in Kite Realty Group Trust in the 4th quarter worth approximately $61,863,000. Deutsche Bank AG boosted its position in Kite Realty Group Trust by 434.7% during the fourth quarter. Deutsche Bank AG now owns 1,719,375 shares of the real estate investment trust’s stock worth $41,213,000 after purchasing an additional 1,397,837 shares during the period. Sei Investments Co. boosted its position in Kite Realty Group Trust by 171.0% during the second quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock worth $38,756,000 after purchasing an additional 1,079,727 shares during the period. Finally, Town Lane Management LP acquired a new position in Kite Realty Group Trust during the fourth quarter valued at approximately $25,466,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.