It is Poised to be a Bull Market for Kite Realty Group Trust (KRG)

Kite Realty Group Trust (NYSE: KRG) stock fell -4.87% on Friday to $17.77 against a previous-day closing price of $18.68. With 1.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.27 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $18.67 whereas the lowest price it dropped to was $17.72. The 52-week range on KRG shows that it touched its highest point at $23.35 and its lowest point at $16.68 during that stretch. It currently has a 1-year price target of $25.05. With its current market cap of 3.84 billion, KRG has annualized dividend of $0.88 while the current yield stands at 4.95%. Beta for the stock currently stands at 1.31.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KRG was down-trending over the past week, with a drop of -5.07%, but this was down by -11.99% over a month. Three-month performance dropped to -1.44% while six-month performance fell -18.52%. The stock lost -14.81% in the past year, while it has lost -18.41% so far this year. A look at the trailing 12-month EPS for KRG yields -0.62 with Next year EPS estimates of -0.31. For the next quarter, that number is -0.09. This implies an EPS growth rate of -278.80% for this year and -40.90% for next year.

Float and Shares Shorts:

At present, 219.07 million KRG shares are outstanding with a float of 217.23 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.1 million, which was 1.87% higher than short shares on Jun 14, 2022. In addition to Mr. John A. Kite as the firm’s Chairman of Trustees & CEO, Mr. Thomas K. McGowan serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 98.04% of KRG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.55% of KRG, in contrast to 40.96% held by mutual funds. Shares owned by individuals account for 0.95%. As the largest shareholder in KRG with 14.51% of the stake, The Vanguard Group, Inc. holds 31,796,092 shares worth 31,796,092. A second-largest stockholder of KRG, BlackRock Fund Advisors, holds 24,827,433 shares, controlling over 11.33% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in KRG, holding 13,114,810 shares or 5.99% stake. With a 4.58% stake in KRG, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 10,042,773 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.97% of KRG stock, is the second-largest Mutual Fund holder. It holds 6,512,824 shares valued at 126.09 million. iShares Core S&P Mid Cap ETF holds 2.94% of the stake in KRG, owning 6,445,941 shares worth 124.79 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KRG since 11 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With KRG analysts setting a high price target of $28.00 and a low target of $21.00, the average target price over the next 12 months is $25.25. Based on these targets, KRG could surge 57.57% to reach the target high and rise by 18.18% to reach the target low. Reaching the average price target will result in a growth of 42.09% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. KRG will report FY 2022 earnings on 02/13/2023. Analysts have provided yearly estimates in a range of -$0.20 being high and -$0.41 being low. For KRG, this leads to a yearly average estimate of -$0.28. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Kite Realty Group Trust surprised analysts by $0.17 when it reported $0.06 EPS against a consensus estimate of -$0.11. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.11. The average estimate for the next quarter is thus -$0.10.

Summary of Insider Activity:

Insiders traded KRG stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 686 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 133,866 while 351,390 shares were sold.

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