Kite Realty Group Trust (NYSE:KRG) Sets New 12-Month High – Should You Buy?

Kite Realty Group Trust (NYSE:KRG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $26.98 and last traded at $26.9750, with a volume of 849052 shares trading hands. The stock had previously closed at $26.52.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird raised their price target on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of Kite Realty Group Trust from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. UBS Group reiterated a “neutral” rating and set a $28.00 price target (up from $25.00) on shares of Kite Realty Group Trust in a research report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.86.

Kite Realty Group Trust Stock Performance

The company has a 50 day moving average of $25.63 and a two-hundred day moving average of $24.45. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $5.50 billion, a PE ratio of 20.35, a PEG ratio of 4.15 and a beta of 0.86.

Kite Realty Group Trust (NYSE:KRG) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. The firm had revenue of $200.70 million for 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, equities research analysts predict that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 9th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 87.22%.

Hedge Funds Weigh In On Kite Realty Group Trust

A number of institutional investors and hedge funds have recently made changes to their positions in KRG. Cohen & Steers Inc. boosted its position in shares of Kite Realty Group Trust by 26.3% in the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock worth $630,805,000 after purchasing an additional 5,486,116 shares in the last quarter. Norges Bank bought a new position in Kite Realty Group Trust during the 4th quarter valued at approximately $61,863,000. Lasalle Investment Management Securities LLC increased its position in Kite Realty Group Trust by 177.3% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust’s stock valued at $62,779,000 after buying an additional 1,799,866 shares in the last quarter. Deutsche Bank AG raised its stake 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 valued at $41,213,000 after buying an additional 1,397,837 shares during the last quarter. Finally, Sei Investments Co. raised its stake 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 valued at $38,756,000 after buying an additional 1,079,727 shares during the last quarter. 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.