Kite Realty Group Trust (NYSE:KRG) saw a downside of -1.60% to close Friday at $21.47 after subtracting -$0.35 on the day. The 5-day average trading volume is 920,700 shares of the company’s common stock. It has gained $23.03 in the past week and touched a new high 1 time within the past 5 days. An average of 1,218,940 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,262,100.
KRG’s 1-month performance is -1.92% or -$0.11 on its low of $21.46 reached on 09/22/23. The company’s shares have touched a 52-week low of $16.42 and high of $24.26, with the stock’s rally to the 52-week high happening on 08/01/23. YTD, KRG has achieved 2.00% or $0.42 and has reached a new high 10 times. However, the current price is down -11.50% from the 52-week high price.
Insider Transactions
KRG stock investors last saw insider trading activity on Jun 15.WURTZEBACH CHARLES H (Director) most recently sold 255 shares at $21.11 per share on Jun 15. This transaction cost the insider $5,383. Director, Grimes Steven P, sold 12,946 shares at a price of $22.35 on Nov 30. Then, on Nov 23, Director Grimes Steven P sold 32,054 shares at a price of $22.22 per share. This transaction amounted to $712,240.
Valuation Metrics
KRG stock has a beta of 1.39. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.70 while the price-to-book (PB) in the most recent quarter is 1.28, with the price to cash flow ratio at 19.80.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.83, while the total debt to equity was 0.86. In terms of profitability, the gross margin trailing 12 months is 20.22%. The firm’s gross profit as reported stood at $91.67 million against revenue of $802.0 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.66% to $32.06 million, while revenue of -$16.97 million was 152.93% off the previous quarter. Analysts expected KRG to announce $0 per share in earnings in its latest quarter, but it posted $0.15. EBITDA for the quarter stood at more than $163.68 million. Shareholders hold equity totaling $219.37 million.
Let’s look briefly at Kite Realty Group Trust (KRG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 28.60% to suggest the stock is trending oversold, with historical volatility in this time period at 21.88%.
The stock’s 5-day moving average is $22.16, reflecting a -6.77% or -$1.56 change from its current price. KRG is currently trading -1.29% above its 20-day SMA, +4.53% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -6.61% and SMA200 by-3.16%.
Stochastic %K and %D was 10.80% and 28.11% and the average true range (ATR) pointed at 0.44. The RSI (14) points at 35.11%, while the 14-day stochastic is at 0.60% with the period’s ATR at 0.44. The stock’s 9-day MACD Oscillator is pointing at -0.59 and -0.58 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Kite Realty Group Trust (NYSE: KRG), Raymond James downgraded it to a Mkt perform rating. They previously had a Strong buy rating on the stock. Analysts offering their rating for KRG stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate KRG as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 5 have offered a “buy” rating.
What is KRG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $22.00 and a high of $28.00, with their median price target at $25.00. Looking at these predictions, the average price target given by analysts is for Kite Realty Group Trust (KRG) stock is $25.50.
