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

Kite Realty Group Trust (NYSE:KRG) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.02-2.08 for the period, compared to the consensus estimate of $2.02. Kite Realty Group Trust also updated its FY 2024 guidance to 2.020-2.080 EPS.

Kite Realty Group Trust Stock Up 0.6 %

Shares of NYSE KRG traded up $0.13 during trading hours on Tuesday, hitting $21.83. The stock had a trading volume of 2,375,909 shares, compared to its average volume of 1,878,202. The company has a market capitalization of $4.79 billion, a P/E ratio of 99.23, a P/E/G ratio of 3.06 and a beta of 1.29. The firm’s 50-day moving average price is $21.03 and its two-hundred day moving average price is $21.42. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.76. Kite Realty Group Trust has a 52 week low of $19.16 and a 52 week high of $24.26.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, April 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.58%. The ex-dividend date was Thursday, April 4th. Kite Realty Group Trust’s payout ratio is 454.57%.

Analyst Upgrades and Downgrades

KRG has been the topic of several recent research reports. Jefferies Financial Group upgraded Kite Realty Group Trust from a hold rating to a buy rating and set a $23.00 target price on the stock in a report on Thursday, April 18th. StockNews.com upgraded Kite Realty Group Trust from a sell rating to a hold rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $26.00.

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.