The stock of Kite Realty Group Trust (NYSE:KRG) last traded at $21.94, down -0.59% from the previous session.
Data from the available sources indicates that Kite Realty Group Trust (NYSE:KRG) is covered by 11 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $27.00 and a low of $19.00, we find $25.50. Given the previous closing price of $22.07, this indicates a potential upside of 15.54 percent. KRG stock price is now 10.82% away from the 50-day moving average and 8.31% away from the 200-day moving average. The market capitalization of the company currently stands at $4.80B.
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In total, 2 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $25.00 as their price target over the next twelve months.
With the price target enhanced from $22 to $25, BofA Securities Upgraded its rating from Neutral to Buy for Kite Realty Group Trust (NYSE: KRG). On September 19, 2022, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $20 to quote $22, while ‘Jefferies’ rates the stock as ‘Hold’.
In other news, Grimes Steven P, Director sold 12,946 shares of the company’s stock on Nov 30. The stock was sold for $289,343 at an average price of $22.35. Upon completion of the transaction, the Director now directly owns 778,506 shares in the company, valued at $17.08 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 23, Director Grimes Steven P sold 32,054 shares of the business’s stock. A total of $712,240 was realized by selling the stock at an average price of $22.22. This leaves the insider owning 791,452 shares of the company worth $17.36 million. Insiders disposed of 13,725 shares of company stock worth roughly $0.3 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in KRG stock. A new stake in Kite Realty Group Trust shares was purchased by HEITMAN REAL ESTATE SECURITIES LLC during the first quarter worth $68,617,000. WATERFRONT CAPITAL PARTNERS, LLC invested $29,970,000 in shares of KRG during the first quarter. In the first quarter, CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC acquired a new stake in Kite Realty Group Trust valued at approximately $24,199,000. NN INVESTMENT PARTNERS HOLDINGS N.V. acquired a new stake in KRG for approximately $18,136,000. FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ purchased a new stake in KRG valued at around $15,571,000 in the second quarter.
With an opening price of $22.05 on Wednesday morning, Kite Realty Group Trust (NYSE: KRG) set off the trading day. During the past 12 months, Kite Realty Group Trust has had a low of $16.42 and a high of $23.35. The fifty day moving average price for KRG is $19.90 and a two-hundred day moving average price translates $20.26 for the stock.
The latest earnings results from Kite Realty Group Trust (NYSE: KRG) was released for Jun, 2022. According to the REIT – Retail Company, earnings per share came in at $0.06, beating analysts’ expectations of -$0.11 by 0.17. This compares to -$0.08 EPS in the same period last year. The net profit margin was -14.40% and return on equity was -2.80% for KRG. The company reported revenue of $200.31 million for the quarter, compared to $71.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 180.29 percent. For the current quarter, analysts expect KRG to generate $193.77M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 01/06/2023 were paid a $0.24 dividend. On an annualized basis, this represents a $0.96 dividend and a 4.38% percent yield. There was an ex-dividend date of 01/05/2023 for this dividend.
Kite Realty Group Trust(KRG) Company Profile
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders.
