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

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

Kite Realty Group Trust Price Performance

Shares of KRG traded up $0.13 during midday trading on Tuesday, hitting $21.83. 2,375,909 shares of the company traded hands, compared to its average volume of 1,878,202. Kite Realty Group Trust has a one year low of $19.16 and a one year high of $24.26. The firm has a market cap of $4.79 billion, a P/E ratio of 99.23, a PEG ratio of 3.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a 50-day moving average of $21.03 and a 200-day moving average of $21.42.

Kite Realty Group Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, April 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Thursday, April 4th. Kite Realty Group Trust’s dividend payout ratio (DPR) is presently 454.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on KRG. Jefferies Financial Group raised shares of Kite Realty Group Trust from a hold rating to a buy rating and set a $23.00 price target for the company in a report on Thursday, April 18th. StockNews.com raised Kite Realty Group Trust from a sell rating to a hold rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $26.00.

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.