Kite Realty Group (KRG)
NYSE:KRG
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Kite Realty Group
(NYSE:KRG)
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Rating:72Outperform
Price Target:
$29.00
▲(8.53% Upside)
Action:ReiteratedDate:04/30/26
KRG’s score is driven most by solid financial performance (strong cash generation and improved profitability) and a constructive earnings update (raised same-property NOI midpoint with strong leasing and pipeline). Technicals are supportive with positive trend/momentum, while valuation is reasonable with an attractive yield; key offsets are balance-sheet data clarity issues and execution/timing risks around transactions and occupancy normalization.
Positive Factors
Consistent cash generation and positive free cash flow
Sustained operating cash flow and consistently positive free cash flow provide durable internal funding for maintenance, redevelopment and shareholder returns. This reduces reliance on volatile capital markets, supports buybacks/dividends and funds value-creating redevelopments over the next 2–6 months and beyond.
Negative Factors
Inconsistent balance-sheet data and leverage sensitivity
Ambiguous recent debt reporting weakens confidence in the leverage picture. Kite remains a rate-sensitive REIT with meaningful leverage historically, so unclear debt classification complicates refinancing and risk assessment, increasing uncertainty around interest-cost sensitivity and covenant headroom.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent cash generation and positive free cash flow
Sustained operating cash flow and consistently positive free cash flow provide durable internal funding for maintenance, redevelopment and shareholder returns. This reduces reliance on volatile capital markets, supports buybacks/dividends and funds value-creating redevelopments over the next 2–6 months and beyond.
Read all positive factors
Kite Realty Group (KRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.41B
Dividend Yield4.55%
Average Volume (3M)1.66M
Price to Earnings (P/E)110.8
Beta (1Y)0.64
Revenue Growth-3.59%
EPS Growth1197.42%
CountryUS
Employees227
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)1.33
Shares Outstanding203,066,540
10 Day Avg. Volume1,705,127
30 Day Avg. Volume1,661,315
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.67
Price to Sales (P/S)6.06
P/FCF Ratio18.50
Enterprise Value/Market Cap1.55
Enterprise Value/Revenue10.13
Enterprise Value/Gross Profit19.38
Enterprise Value/Ebitda10.65
Forecast
1Y Price Target
$28.17Price Target Upside5.41% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.32
Revenue Forecast (FY)$808.97M
Kite Realty Group Business Overview & Revenue Model
Company Description
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. We connect consumers to retailers in desirable markets through our ...
How the Company Makes Money
KRG primarily makes money by leasing space in its properties and collecting rental income from tenants. Its core revenue stream is base rent paid under long-term commercial leases across its shopping centers and mixed-use assets. In addition to ba...
Kite Realty Group Key Performance Indicators (KPIs)
Any
Number of Properties
Counts the total retail and mixed-use properties Kite Realty owns or operates, showing the company’s scale and geographic footprint. Growth signals expanding rental income potential, while declines or concentration in certain markets highlight disposition activity or location-specific risk.
Counts the total retail and mixed-use properties Kite Realty owns or operates, showing the company’s scale and geographic footprint. Growth signals expanding rental income potential, while declines or concentration in certain markets highlight disposition activity or location-specific risk.
Data provided by:
The Fly
The FlyKite Realty Group Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 03, 2026
Earnings Call Sentiment Positive
The call emphasized strong operating fundamentals: better-than-expected Q1 same-property NOI growth (3.6%), robust leasing activity and spreads, growing ABR (+6.5% YoY), an elevated SNO pipeline, improving embedded rent escalators, meaningful share repurchases and active capital recycling with a strong liquidity position. Management acknowledged timing-related items (recurring but unpredictable items shifted into 2027), transaction execution risk for planned 1031 acquisitions and dispositions, and occupancy that remains below historical peaks but with clear path to improvement. On balance, the company presented multiple concrete operational and financial positives while flagging execution/timing risks tied to transactions and seasonal occupancy dynamics.Positive Updates
Same-Property NOI Growth
Same-property NOI increased 3.6% in Q1 (year-over-year), outperforming expectations and prompting a 25 basis point increase to the 2026 same-property NOI midpoint guidance.
Negative Updates
Guidance Timing and FFO Flow-Through
Incremental same-property NOI upside in Q1 did not fully flow through to full-year FFO because recurring but unpredictable items were timing-shifted into 2027, leaving 2026 NAREIT/core FFO guidance unchanged.
Read all updates
Q1-2026 Updates
Positive
Negative
Same-Property NOI Growth
Same-property NOI increased 3.6% in Q1 (year-over-year), outperforming expectations and prompting a 25 basis point increase to the 2026 same-property NOI midpoint guidance.
Read all positive updates
Company Guidance
Kite raised the midpoint of its 2026 same-property NOI outlook by 25 basis points after Q1 same-property NOI came in at +3.6% (exceeding expectations) and affirmed NAREIT FFO and core FFO guidance of $2.06–$2.12 per share based on a same-store NOI growth range of 2.5%–3.5%; management expects a moderation in Q2 followed by reacceleration in the back half as the ~ $36M signed-not-open pipeline (avg ABR $28/sq ft) begins to commence. Q1 operating and portfolio metrics supporting guidance included 151 new/renewal leases (>700k SF), blended cash leasing spreads of 13.5% (new leases 31.3%), non-option renewal spreads 12.3%, lease rate 94.7% (+90 bps YoY), ABR $22.89 (+6.5% YoY), and embedded rent escalators at 182 bps (target 200 bps). Financial assumptions in guidance: bad-debt reserve midpoint 95 bps of revenue (100 bps assumed for the balance), interest expense (net of income, ex‑JVs) ~$121.2M, net debt/EBITDA 5.2x, >$1B liquidity, plus recent activity factored in (Q1 repurchases of 6M shares for ~$152M and total repurchases of 16.9M shares for $400M at $23.67 avg; $100M incremental buybacks since last call), anticipated $170M of 1031 acquisitions (Q2) and $145M of dispositions ( $12.5M closed, balance in back half), with the possibility of a special dividend.Kite Realty Group Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 826.57M | 847.63M | 841.84M | 823.00M | 802.00M | 373.32M |
| Gross Profit | 431.97M | 451.39M | 624.35M | 612.62M | 590.19M | 268.23M |
| EBITDA | 786.05M | 809.90M | 528.23M | 436.91M | 565.13M | 181.56M |
| Net Income | 286.33M | 298.66M | 4.07M | 47.50M | -12.64M | -80.81M |
Balance Sheet | ||||||
| Total Assets | 6.35B | 6.66B | 7.09B | 6.94B | 7.34B | 7.64B |
| Cash, Cash Equivalents and Short-Term Investments | 32.54M | 36.76M | 478.06M | 36.41M | 121.97M | 218.24M |
| Total Debt | 2.99B | 3.37B | 3.23B | 3.06B | 3.27B | 3.43B |
| Total Liabilities | 3.36B | 3.47B | 3.68B | 3.30B | 3.52B | 3.66B |
| Stockholders Equity | 2.86B | 3.07B | 3.31B | 3.57B | 3.77B | 3.92B |
Cash Flow | ||||||
| Free Cash Flow | 255.29M | 277.65M | 278.08M | 252.07M | 220.74M | 43.04M |
| Operating Cash Flow | 405.37M | 429.66M | 419.03M | 394.65M | 379.28M | 100.35M |
| Investing Cash Flow | 361.17M | 613.53M | -498.99M | -81.73M | -45.15M | -91.03M |
| Financing Cash Flow | -598.52M | -698.35M | 172.09M | -393.46M | -312.53M | 44.46M |
Kite Realty Group Technical Analysis
Positive
26.72
Price Trends
25.06
Positive
23.96
Positive
22.71
Positive
Market Momentum
0.35
Negative
75.17
Negative
98.64
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRG, the sentiment is Positive. The current price of 26.72 is above the 20-day moving average (MA) of 24.78, above the 50-day MA of 25.06, and above the 200-day MA of 22.71, indicating a bullish trend. The MACD of 0.35 indicates Negative momentum. The RSI at 75.17 is Negative, neither overbought nor oversold. The STOCH value of 98.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KRG.
Kite Realty Group Risk Analysis
Kite Realty Group disclosed 42 risk factors in its most recent earnings report. Kite Realty Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kite Realty Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $5.59B | 38.49 | 5.05% | 3.52% | 9.06% | 59.27% | |
72 Outperform | $5.41B | 110.80 | 9.22% | 4.55% | -3.59% | 1197.42% | |
70 Outperform | $2.49B | 114.48 | 6.22% | 3.26% | 9.91% | 518.94% | |
69 Neutral | $4.23B | 33.97 | 18.24% | 3.38% | 10.88% | 26.12% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | $6.02B | -33.54 | -7.72% | 3.61% | 2.43% | 72.99% | |
42 Neutral | $719.21K | 1.86 | 20.26% | ― | -4.52% | 99.66% |
* Real Estate Sector Average
KRG
Kite Realty Group
26.65
5.38
25.28%
MAC
Macerich
22.23
7.73
53.34%
SKT
Tanger
36.85
8.05
27.95%
WHLR
Wheeler Real Estate Investment
1.19
-598.32
-99.80%
IVT
InvenTrust Properties
31.96
4.84
17.86%
PECO
Phillips Edison & Company
40.28
6.29
18.51%
Kite Realty Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Kite Realty Reaffirms 2026 FFO Guidance After Strong Quarter
Positive
Apr 29, 2026
Kite Realty Group Trust reported first-quarter 2026 results showing NAREIT and Core FFO of $0.52 per share, driven by 3.6% same-property NOI growth, strong leasing spreads, and higher base rents, while its retail portfolio was 94.7% leased and sup...
Business Operations and StrategyExecutive/Board Changes
Kite Realty Group Expands CFO Role and Leadership
Positive
Mar 20, 2026
On March 20, 2026, Kite Realty Group’s board expanded the role of longtime Chief Financial Officer Heath R. Fear, appointing him to additionally serve as President alongside his CFO responsibilities. Fear, who joined the company in 2018 and ...
Business Operations and StrategyExecutive/Board Changes
Kite Realty Group Strengthens Financial Leadership with New CAO
Positive
Mar 5, 2026
On March 1, 2026, Kite Realty Group Trust appointed Adam M. Jaworski as Senior Vice President, Chief Accounting Officer and principal accounting officer, effective April 6, 2026, bringing in a seasoned accounting and finance executive with experie...
Business Operations and StrategyFinancial Disclosures
Kite Realty Group Guides 2026 FFO Amid Steady Growth
Positive
Feb 17, 2026
Kite Realty Group reported that its fourth-quarter and full-year 2025 results showed modest year-over-year gains, with NAREIT FFO rising to $0.52 for Q4 and $2.10 for 2025, supported by same-property NOI growth, strong leasing spreads, and higher ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.