Kite Realty Group Trust (NYSE:KRG) Releases Earnings Results, Beats Estimates By $0.35 EPS

Kite Realty Group Trust (NYSE:KRG) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.35, FiscalAI reports. Kite Realty Group Trust had a return on equity of 4.27% and a net margin of 16.34%.The business had revenue of $204.94 million during the quarter, compared to analyst estimates of $204.48 million.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $25.05 on Tuesday. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 6.32 and a beta of 0.91. The business has a 50 day moving average price of $23.79 and a 200 day moving average price of $22.82. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.93. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $25.19.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 9th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.6%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s payout ratio is presently 181.25%.

Analyst Ratings Changes

KRG has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday, December 29th. UBS Group reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $24.00) on shares of Kite Realty Group Trust in a research report on Thursday, January 8th. Raymond James Financial downgraded Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price objective (up from $23.00) on shares of Kite Realty Group Trust in a research note on Monday, December 15th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kite Realty Group Trust currently has an average rating of “Hold” and an average price target of $25.43.

Institutional Investors Weigh In On Kite Realty Group Trust

Hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC increased its position in Kite Realty Group Trust by 2.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,636 shares of the real estate investment trust’s stock worth $423,000 after acquiring an additional 499 shares during the period. Mariner LLC increased its holdings in shares of Kite Realty Group Trust by 2.7% during the 4th quarter. Mariner LLC now owns 39,469 shares of the real estate investment trust’s stock worth $946,000 after purchasing an additional 1,031 shares during the period. Focus Partners Wealth raised its position in shares of Kite Realty Group Trust by 108.6% during the fourth quarter. Focus Partners Wealth now owns 175,387 shares of the real estate investment trust’s stock valued at $4,204,000 after buying an additional 91,313 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Kite Realty Group Trust by 12.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 208,658 shares of the real estate investment trust’s stock valued at $5,002,000 after buying an additional 22,404 shares during the last quarter. Finally, Arax Advisory Partners lifted its stake in shares of Kite Realty Group Trust by 182.0% in the fourth quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 726 shares during the period. 90.81% of the stock is owned by 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.