Kite Realty Group Trust (NYSE: KRG) stock jumped 2.31% on Thursday to $23.00 against a previous-day closing price of $22.48. With 1.05 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.36 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $23.13 whereas the lowest price it dropped to was $22.70. The 52-week range on KRG shows that it touched its highest point at $24.26 and its lowest point at $16.42 during that stretch. It currently has a 1-year price target of $25.50. With its current market cap of 5.02 billion, KRG has annualized dividend of $0.96 while the current yield stands at 4.17%. Beta for the stock currently stands at 1.39.
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 up-trending over the past week, with a rise of 2.13%, but this was up by 1.05% over a month. Three-month performance surged to 9.32% while six-month performance rose 14.20%. The stock gained 19.79% in the past year, while it has gained 9.26% so far this year. A look at the trailing 12-month EPS for KRG yields 0.13 with Next year EPS estimates of 0.11. For the next quarter, that number is 0.00. This implies an EPS growth rate of 92.10% for this year and -27.63% for next year.
Float and Shares Shorts:
At present, 219.35 million KRG shares are outstanding with a float of 217.53 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.3 million, which was 2.42% higher than short shares on Jul 30, 2023. 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 99.51% of KRG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.26% of KRG, in contrast to 41.97% held by mutual funds. Shares owned by individuals account for 0.94%. As the largest shareholder in KRG with 14.38% of the stake, The Vanguard Group, Inc. holds 31,527,900 shares worth 31,527,900. A second-largest stockholder of KRG, BlackRock Fund Advisors, holds 27,164,696 shares, controlling over 12.39% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in KRG, holding 13,340,578 shares or 6.08% stake. With a 4.22% stake in KRG, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 9,246,111 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.21% of KRG stock, is the second-largest Mutual Fund holder. It holds 7,035,880 shares valued at 160.98 million. Vanguard Total Stock Market ETF holds 3.12% of the stake in KRG, owning 6,836,037 shares worth 156.41 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, KRG reported revenue of $202.60M and operating income of $15.03M. The EBITDA in the recently reported quarter was $134.74M and diluted EPS was $0.06.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KRG since 0 analysts follow the stock currently. 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 $22.00, the average target price over the next 12 months is $25.50. Based on these targets, KRG could surge 21.74% to reach the target high and fall by -4.35% to reach the target low. Reaching the average price target will result in a growth of 10.87% 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.
Summary of Insider Activity:
Insiders traded KRG stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 531 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 176,104 while 179,520 shares were sold.