Kite Realty Group Trust (NYSE:KRG) Issues FY 2024 Earnings Guidance

Kite Realty Group Trust (NYSE:KRG) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.040-2.080 for the period, compared to the consensus earnings per share estimate of 2.050. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several analysts recently commented on KRG shares. Jefferies Financial Group upgraded Kite Realty Group Trust from a hold rating to a buy rating and set a $23.00 target price on the stock in a research report on Thursday, April 18th. Wells Fargo & Company boosted their price objective on shares of Kite Realty Group Trust from $22.00 to $23.00 and gave the stock an underweight rating in a report on Tuesday, May 28th. Finally, Robert W. Baird increased their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a neutral rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $26.00.

Kite Realty Group Trust Price Performance

NYSE KRG traded down $0.46 during trading hours on Friday, hitting $24.32. 2,754,976 shares of the company’s stock traded hands, compared to its average volume of 1,688,462. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.72 and a quick ratio of 2.72. The firm’s 50-day moving average is $22.54 and its 200-day moving average is $21.68. Kite Realty Group Trust has a 52-week low of $19.64 and a 52-week high of $25.56. The company has a market capitalization of $5.34 billion, a PE ratio of 93.54, a PEG ratio of 6.22 and a beta of 1.30.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.28%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 384.63%.

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.