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.
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.
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.
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.