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Kite Realty Group
(NYSE:KRG)
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Rating:66Neutral
Price Target:
$29.00
▼(-1.06% Downside)
Action:Reiterated
Date:08/18/26
The score is driven primarily by improved profitability/returns and a constructive earnings call (raised same-property NOI guidance, strong leasing and liquidity). These positives are tempered by leverage and weaker recent free-cash-flow momentum, while technical indicators remain notably bearish, limiting the overall score despite reasonable valuation and an attractive dividend yield.
Positive Factors
Same-property NOI growth
Recurring NOI growth and higher guidance indicate resilient property-level demand, improving tenant economics and stronger operating execution. Sustained NOI expansion can support future cash flow and earnings even without substantial portfolio growth.
Negative Factors
Elevated leverage
KRG’s meaningful leverage increases sensitivity to interest costs, refinancing conditions and property-level volatility. Although management is prioritizing debt reduction, leverage may constrain acquisitions, redevelopment spending and financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Same-property NOI growth
Recurring NOI growth and higher guidance indicate resilient property-level demand, improving tenant economics and stronger operating execution. Sustained NOI expansion can support future cash flow and earnings even without substantial portfolio growth.
Read all positive factors
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 (KRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.26B
Dividend Yield4.86%
Average Volume (3M)2.51M
Price to Earnings (P/E)16.2
Beta (1Y)0.55
Revenue Growth-5.84%
EPS Growth395.39%
CountryUS
Employees228
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)1.62
Shares Outstanding200,346,940
10 Day Avg. Volume2,643,727
30 Day Avg. Volume2,506,440
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$31.33Price Target Upside6.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.75
Revenue Forecast (FY)$790.79M
Kite Realty Group Business Overview & Revenue Model
Company Description
Kite Realty Group Trust (KRG) operates as a comprehensive, vertically integrated real estate investment trust (REIT) focused on creating accessible and valuable retail destinations for communities. We strategically link consumers with a variety of...
How the Company Makes Money
KRG primarily makes money by generating recurring rental income from leasing space in its retail and mixed-use properties. Its core revenue streams typically include (1) base rent paid by tenants under lease agreements, (2) tenant reimbursements a...
Kite Realty Group Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call communicated strong operational and strategic progress: notable same-property NOI outperformance, meaningful portfolio enhancement through Project Elevate, disciplined capital allocation (acquisitions, repurchases) and a fortified balance sheet with ample liquidity. The company remains cautious on near-term earnings (unchanged FFO guidance, conservative bad debt assumptions) due to timing of transactions and deliberate patience in redeploying proceeds. Overall, positive momentum and improved portfolio quality outweigh the modest near-term headwinds from transaction timing and occupancy being below peak.Positive Updates
Same-Property NOI Outperformance
Same-property NOI grew 3.7% in Q2 2026 (and year-to-date), outperforming internal estimates and driven by better tenant retention, lower bad debt, higher overage rent and stronger net recoveries; company raised full-year same-property NOI guidance by 50 basis points at the midpoint to a range of 3.0%–4.0%.
Negative Updates
FFO Guidance Unchanged Despite NOI Strength
Company maintained full-year core FFO and NAREIT FFO guidance at $2.06–$2.12 per share despite raising same-property NOI guidance, citing preference for flexibility and balance sheet strength over immediate redeployment of proceeds.
Read all updates
Q2-2026 Updates
Positive
Negative
Same-Property NOI Outperformance
Same-property NOI grew 3.7% in Q2 2026 (and year-to-date), outperforming internal estimates and driven by better tenant retention, lower bad debt, higher overage rent and stronger net recoveries; company raised full-year same-property NOI guidance by 50 basis points at the midpoint to a range of 3.0%–4.0%.
Read all positive updates
Company Guidance
Kite raised full‑year same‑property NOI guidance by 50 bps to 3.0%–4.0% while maintaining core and NAREIT FFO guidance of $2.06–$2.12; Q2 produced core FFO $0.52, NAREIT FFO $0.53 and same‑property NOI +3.7% (Q2 and YTD). Guidance assumes a 90‑bp bad‑debt reserve (midpoint), interest expense net of income (ex‑JVs) of $114.7M (midpoint), roughly $225M of remaining non‑core tax‑loss sales and $110M of 1031 acquisitions, and management expects sources to exceed uses by ~$240M. Key balance‑sheet and portfolio metrics cited: net debt/EBITDA 5.1x, >$1.2B liquidity, $345M of 3.25% exchangeable notes priced (effective conversion $41.91), Q2 buybacks ~2.8M shares at $27.48 (~$75M) and 19.6M shares (~$475M) since 2025, acquisitions this quarter $136M ( ~$612M since 2025), lease rate 94.8% (+150 bps Y/Y) with anchor lease rate +210 bps, ABR $23.41/sqft (+2.3% q/q, +6.3% Y/Y), embedded rent growth 185 bps (+~30 bps since start of 2024), signed‑not‑open pipeline ≈$37M NOI, and quarterly leasing of 128 new/renewal deals (~1.0M sq ft) with blended cash spreads 15.9% (28.4% on comparable new leases); management emphasized prioritizing leverage reduction, liquidity and optionality over immediate redeployment of Project Elevate proceeds.Kite Realty Group Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 809.43M | 847.63M | 841.84M | 823.00M | 802.00M | 373.32M |
| Gross Profit | 417.40M | 451.39M | 624.35M | 612.62M | 590.19M | 268.23M |
| EBITDA | 818.93M | 809.90M | 528.23M | 436.91M | 565.13M | 181.56M |
| Net Income | 337.31M | 298.66M | 4.07M | 47.50M | -12.64M | -80.81M |
Balance Sheet | ||||||
| Total Assets | 6.27B | 6.66B | 7.09B | 6.94B | 7.34B | 7.64B |
| Cash, Cash Equivalents and Short-Term Investments | 144.58M | 36.76M | 478.06M | 36.41M | 121.97M | 218.24M |
| Total Debt | 3.42B | 3.37B | 3.23B | 3.06B | 3.27B | 3.43B |
| Total Liabilities | 3.25B | 3.47B | 3.68B | 3.30B | 3.52B | 3.66B |
| Stockholders Equity | 2.87B | 3.07B | 3.31B | 3.57B | 3.77B | 3.92B |
Cash Flow | ||||||
| Free Cash Flow | 260.31M | 277.65M | 278.08M | 252.07M | 220.74M | 43.04M |
| Operating Cash Flow | 399.31M | 429.66M | 419.03M | 394.65M | 379.28M | 100.35M |
| Investing Cash Flow | 542.74M | 613.53M | -498.99M | -81.73M | -45.15M | -91.03M |
| Financing Cash Flow | -808.47M | -698.35M | 172.09M | -393.46M | -312.53M | 44.46M |
Kite Realty Group Technical Analysis
Neutral
29.31
Price Trends
27.98
Negative
27.11
Negative
25.22
Positive
Market Momentum
-0.55
Positive
36.43
Neutral
29.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRG, the sentiment is Neutral. The current price of 29.31 is above the 20-day moving average (MA) of 26.95, above the 50-day MA of 27.98, and above the 200-day MA of 25.22, indicating a neutral trend. The MACD of -0.55 indicates Positive momentum. The RSI at 36.43 is Neutral, neither overbought nor oversold. The STOCH value of 29.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $5.59B | 34.46 | 6.24% | 2.99% | 8.07% | 106.29% | |
68 Neutral | $2.56B | 161.86 | 0.85% | 2.68% | 10.76% | -86.42% | |
67 Neutral | $4.47B | 34.64 | 18.64% | 2.84% | 11.37% | 23.27% | |
66 Neutral | $5.26B | 16.21 | 11.27% | 4.38% | -5.84% | 395.39% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
54 Neutral | $7.18B | -37.48 | -6.63% | 2.63% | 9.48% | 45.78% | |
46 Neutral | $888.98K | ― | 9.74% | ― | -7.40% | ― |
* Real Estate Sector Average
KRG
Kite Realty Group
26.44
5.28
24.95%
MAC
Macerich
24.26
6.63
37.64%
SKT
Tanger
38.45
6.17
19.13%
WHLR
Wheeler Real Estate Investment
0.37
-2,771.63
-99.99%
IVT
InvenTrust Properties
32.68
4.36
15.41%
PECO
Phillips Edison & Company
39.91
6.66
20.04%
Kite Realty Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Kite Realty Group Reaffirms 2026 Guidance Amid Solid Q2
Positive
Jul 30, 2026
In its Q2 2026 investor update, Kite Realty Group reported solid operating performance, with NAREIT FFO of $0.53 per share and core FFO of $0.52, driven by 3.7% same-property NOI growth and robust leasing activity of roughly 1 million square feet ...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Kite Realty Issues Exchangeable Notes and Capped Call Deal
Positive
Jul 2, 2026
On July 2, 2026, Kite Realty Group, L.P., the operating partnership of Kite Realty Group Trust, issued $345 million of 3.25% exchangeable senior notes due 2032 in a Rule 144A private placement, including full exercise of a $45 million option, gene...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Kite Realty Launches Exchangeable Senior Notes Offering
Positive
Jun 29, 2026
On June 29, 2026, Kite Realty Group’s operating partnership launched a private offering of $300 million in exchangeable senior notes due 2032 to qualified institutional buyers, with an option for purchasers to buy an additional $45 million. ...
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.