Kite Realty Group Trust (NYSE:KRG) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened
by Scott Moore · The Cerbat GemShares of Kite Realty Group Trust (NYSE:KRG – Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.31 and traded as high as $28.65. Kite Realty Group Trust shares last traded at $28.58, with a volume of 2,614,635 shares changing hands.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on KRG shares. LADENBURG THALM/SH SH increased their price target on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Wells Fargo & Company reiterated an “overweight” rating and set a $29.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday, May 26th. Finally, UBS Group reissued a “neutral” rating and issued a $28.00 price target (up from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.43.
Check Out Our Latest Stock Analysis on Kite Realty Group Trust
Kite Realty Group Trust Trading Up 0.4%
The company has a market cap of $5.88 billion, a P/E ratio of 21.77, a PEG ratio of 4.04 and a beta of 0.86. The stock’s 50 day moving average is $27.06 and its 200-day moving average is $25.35. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05.
Kite Realty Group Trust (NYSE:KRG – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Research analysts anticipate that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.
Kite Realty Group Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 9th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, July 9th. Kite Realty Group Trust’s payout ratio is presently 87.22%.
Institutional Trading of Kite Realty Group Trust
Several institutional investors have recently added to or reduced their stakes in KRG. AQR Capital Management LLC raised its stake in shares of Kite Realty Group Trust by 32.2% in the first quarter. AQR Capital Management LLC now owns 80,984 shares of the real estate investment trust’s stock worth $1,797,000 after purchasing an additional 19,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Kite Realty Group Trust by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,314 shares of the real estate investment trust’s stock valued at $2,893,000 after buying an additional 5,666 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 740 shares in the last quarter. California Public Employees Retirement System increased its holdings in Kite Realty Group Trust by 14.5% in the 2nd quarter. California Public Employees Retirement System now owns 385,476 shares of the real estate investment trust’s stock worth $8,731,000 after buying an additional 48,935 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Kite Realty Group Trust by 3.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 77,577 shares of the real estate investment trust’s stock worth $1,757,000 after buying an additional 2,386 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
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.