Kite Realty Group Trust (NYSE:KRG) Issues FY24 Earnings Guidance

Kite Realty Group Trust (NYSE:KRG) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.06-2.08 for the period, compared to the consensus earnings per share estimate of $2.06. Kite Realty Group Trust also updated its FY 2024 guidance to 2.060-2.080 EPS.

Kite Realty Group Trust Trading Up 1.2 %

Shares of KRG stock traded up $0.30 on Wednesday, reaching $26.04. 2,112,666 shares of the stock were exchanged, compared to its average volume of 1,582,536. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.88. Kite Realty Group Trust has a 1-year low of $19.64 and a 1-year high of $27.15. The stock has a market cap of $5.72 billion, a P/E ratio of -236.73, a price-to-earnings-growth ratio of 3.99 and a beta of 1.29. The firm has a 50 day moving average of $26.06 and a two-hundred day moving average of $23.66.

Analyst Ratings Changes

A number of brokerages have weighed in on KRG. Wells Fargo & Company raised shares of Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Piper Sandler raised their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Robert W. Baird upped their price objective on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Compass Point raised their target price on shares of Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, KeyCorp boosted their price objective on Kite Realty Group Trust from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Insider Activity

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total transaction of $999,506.00. Following the sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Company Profile

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.