Kite Realty Group Trust (NYSE:KRG) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Kite Realty Group Trust (NYSE:KRG) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

KRG has been the subject of several other research reports. Wells Fargo & Company cut their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kite Realty Group Trust in a research note on Saturday, September 27th. UBS Group began coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They set a “neutral” rating and a $24.00 target price for the company. Finally, Citigroup reaffirmed a “neutral” rating and issued a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.50.

Kite Realty Group Trust Trading Up 0.5%

Shares of NYSE:KRG opened at $22.30 on Friday. The business’s 50 day simple moving average is $22.20 and its 200 day simple moving average is $22.16. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $4.90 billion, a P/E ratio of 28.23, a P/E/G ratio of 6.15 and a beta of 1.15.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust’s payout ratio is presently 136.71%.

Insider Activity at Kite Realty Group Trust

In related news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of Kite Realty Group Trust

A number of hedge funds have recently made changes to their positions in KRG. Wealth Enhancement Advisory Services LLC increased its stake in shares of Kite Realty Group Trust by 15.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,912 shares of the real estate investment trust’s stock valued at $629,000 after buying an additional 3,393 shares during the period. GAMMA Investing LLC grew its holdings in Kite Realty Group Trust by 1,523.9% during the 1st quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust’s stock worth $1,739,000 after acquiring an additional 72,949 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Kite Realty Group Trust by 27.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust’s stock valued at $1,331,000 after acquiring an additional 12,696 shares during the period. SG Americas Securities LLC bought a new position in shares of Kite Realty Group Trust during the first quarter valued at $795,000. Finally, CX Institutional acquired a new position in shares of Kite Realty Group Trust during the first quarter worth $79,000. 90.81% of the stock is owned by institutional investors and hedge funds.

About Kite Realty Group Trust

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.