Analysts release forecast for Kite Realty Group Trust’s third quarter 2022 earnings (NYSE:KRG)
Kite Realty Group Trust (NYSE:KRG – Get Rating) – Equity analysts at Jefferies Financial Group have raised their third quarter 2022 earnings per share (EPS) estimates for Kite Realty Group Trust in a research note released to investors on Sunday August 14. Jefferies Financial Group analyst L. Tsai now expects the real estate investment trust to post earnings of $0.45 per share for the quarter, up from its previous estimate of $0.44. Jefferies Financial Group currently has a “Hold” rating on the stock. Kite Realty Group Trust’s current annual earnings consensus estimate is $1.83 per share. Jefferies Financial Group also released estimates for Kite Realty Group Trust Q4 2022 earnings at $0.44 EPS, Q1 2023 earnings at $0.46 EPS, Q2 2023 earnings at $0.49 EPS, 2023 Q4 earnings at $0.45 EPS, 2023 fiscal year earnings at $1.85 EPS, 2024 Q1 earnings at $0.47 EPS, 2024 Q2 earnings at $0.51 EPS and earnings of fiscal year 2024 at $1.90 EPS.
Other equity research analysts have also recently released reports on the company. Barclays cut its price target on Kite Realty Group Trust from $29.00 to $28.00 and set an “overweight” rating on the stock in a Friday July 15 research report. Piper Sandler reduced her price target on Kite Realty Group Trust to $25.00 in a research note on Monday, July 4. StockNews.com upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Monday. Robert W. Baird raised his price target on Kite Realty Group Trust from $25.00 to $26.00 in a research note on Monday. Finally, Capital One Financial reissued an “overweight” rating on shares of Kite Realty Group Trust in a Wednesday, May 25 research note. Two investment analysts gave the stock a hold rating, six gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat, Kite Realty Group Trust currently has an average rating of “Moderate Buy” and a consensus price target of $26.29.
Kite Realty Group Trust Price Performance
NYSE:KRG opened at $22.21 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt ratio of 0.77. Kite Realty Group Trust has a 12 month minimum of $16.68 and a 12 month maximum of $23.35. The company’s 50-day moving average is $18.67 and its 200-day moving average is $20.67.
Institutional entries and exits
Hedge funds have recently changed their stakes in the company. JPMorgan Chase & Co. increased its stake in Kite Realty Group Trust by 313.9% in the fourth quarter. JPMorgan Chase & Co. now owns 14,786,233 shares of the real estate investment trust worth $322,044,000 after buying an additional 11,213,604 shares last quarter. State Street Corp increased its stake in Kite Realty Group Trust by 153.9% in the fourth quarter. State Street Corp now owns 11,479,726 shares of the real estate investment trust worth $250,028,000 after buying an additional 6,958,610 shares in the last quarter. DigitalBridge Group Inc. increased its stake in Kite Realty Group Trust by 1,149.3% in the first quarter. DigitalBridge Group Inc. now owns 5,078,385 shares of the real estate investment trust worth $16,246,000 after purchasing an additional 4,671,885 shares in the last quarter. Cohen & Steers Inc. increased its stake in Kite Realty Group Trust by 113.8% in the first quarter. Cohen & Steers Inc. now owns 7,156,681 shares of the real estate investment trust worth $162,958,000 after purchasing an additional 3,808,847 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Kite Realty Group Trust by 170.6% in the fourth quarter. Geode Capital Management LLC now owns 4,774,715 shares of the real estate investment trust worth $103,993,000 after purchasing an additional 3,010,310 shares last quarter. Institutional investors hold 90.42% of the company’s shares.
Kite Realty Group Trust increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14. Shareholders of record on Friday, October 7 will receive a dividend of $0.22 per share. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.21. The ex-date of this dividend is Thursday, October 6. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 3.96%. Kite Realty Group Trust’s dividend payout ratio is currently -135.48%.
Company Profile Kite Realty Group Trust
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Kite Realty Group Trust is a vertically integrated, full-service real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in in-demand markets through our portfolio of neighborhood, community and lifestyle centers.
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