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

Kite Realty Group Trust (NYSE:KRG) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.060-2.080 for the period, compared to the consensus earnings per share estimate of 2.060. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Compass Point increased their price objective on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $23.00 to $26.00 in a research report on Wednesday, August 28th. KeyCorp raised their price target on Kite Realty Group Trust from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Robert W. Baird raised their price target on Kite Realty Group Trust from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Friday, August 16th. Three equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Price Performance

Shares of KRG traded up $0.30 during trading hours on Wednesday, reaching $26.04. 2,112,666 shares of the company traded hands, 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. The stock has a market capitalization of $5.72 billion, a PE ratio of -234.00, a price-to-earnings-growth ratio of 3.99 and a beta of 1.29. Kite Realty Group Trust has a fifty-two week low of $19.64 and a fifty-two week high of $27.15. The stock has a fifty day simple moving average of $26.06 and a 200 day simple moving average of $23.66.

Insiders Place Their Bets

In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $26.80, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.