NYSE:KRG

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Kite Realty Group Trust

Executive Summary

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) that provides communities with convenient and beneficial shopping experiences. More Details


Snowflake Analysis

Slightly overvalued with questionable track record.


Similar Companies

Share Price & News

How has Kite Realty Group Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KRG is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: KRG's weekly volatility (10%) has been stable over the past year.


Market Performance


7 Day Return

2.6%

KRG

0.1%

US REITs

2.1%

US Market


1 Year Return

-21.6%

KRG

-8.6%

US REITs

19.8%

US Market

Return vs Industry: KRG underperformed the US REITs industry which returned -8.8% over the past year.

Return vs Market: KRG underperformed the US Market which returned 19.7% over the past year.


Shareholder returns

KRGIndustryMarket
7 Day2.6%0.1%2.1%
30 Day40.4%8.6%8.1%
90 Day33.2%2.6%6.0%
1 Year-16.8%-21.6%-4.8%-8.6%22.5%19.8%
3 Year-1.7%-21.0%18.5%4.5%46.5%36.8%
5 Year-19.2%-41.3%50.7%20.4%96.9%75.3%

Long-Term Price Volatility Vs. Market

How volatile is Kite Realty Group Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Kite Realty Group Trust undervalued compared to its fair value and its price relative to the market?

11.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KRG ($15.19) is trading below our estimate of fair value ($17.17)

Significantly Below Fair Value: KRG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: KRG is poor value based on its PE Ratio (218.2x) compared to the US REITs industry average (38.3x).

PE vs Market: KRG is poor value based on its PE Ratio (218.2x) compared to the US market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: KRG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: KRG is good value based on its PB Ratio (1x) compared to the US REITs industry average (1.6x).


Next Steps

Future Growth

How is Kite Realty Group Trust forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

-37.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KRG's earnings are forecast to decline over the next 3 years (-37.6% per year).

Earnings vs Market: KRG's earnings are forecast to decline over the next 3 years (-37.6% per year).

High Growth Earnings: KRG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: KRG's revenue (0.9% per year) is forecast to grow slower than the US market (10.2% per year).

High Growth Revenue: KRG's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if KRG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Kite Realty Group Trust performed over the past 5 years?

-48.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KRG has a large one-off gain of $17.1M impacting its September 30 2020 financial results.

Growing Profit Margin: KRG became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: KRG has become profitable over the past 5 years, growing earnings by -48.3% per year.

Accelerating Growth: KRG has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: KRG has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (2%).


Return on Equity

High ROE: KRG's Return on Equity (0.5%) is considered low.


Next Steps

Financial Health

How is Kite Realty Group Trust's financial position?


Financial Position Analysis

Short Term Liabilities: KRG's short term assets ($233.8M) exceed its short term liabilities ($88.6M).

Long Term Liabilities: KRG's short term assets ($233.8M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: KRG's debt to equity ratio (95.6%) is considered high.

Reducing Debt: KRG's debt to equity ratio has increased from 87.7% to 95.6% over the past 5 years.

Debt Coverage: KRG's debt is not well covered by operating cash flow (9.6%).

Interest Coverage: KRG's interest payments on its debt are not well covered by EBIT (0.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Kite Realty Group Trust current dividend yield, its reliability and sustainability?

1.37%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: KRG's dividend (1.37%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: KRG's dividend (1.37%) is low compared to the top 25% of dividend payers in the US market (4.05%).


Stability and Growth of Payments

Stable Dividend: KRG's dividend payments have been volatile in the past 10 years.

Growing Dividend: KRG's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.6%), KRG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KRG's dividends in 3 years are forecast to be covered by earnings (58.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

John Kite (54 yo)

16.25yrs

Tenure

US$5,995,444

Compensation

Mr. John A. Kite has been the Chief Executive Officer at Kite Realty Group Trust since August 2004. Mr. Kite continues to provide Kite with invaluable experience in managing and operating real estate compa...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD6.00M) is above average for companies of similar size in the US market ($USD4.15M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
John Kite
Chairman & CEO16.25yrsUS$6.00m0.046%
$ 601.5k
Thomas McGowan
President & COO11.92yrsUS$2.34m0.098%
$ 1.3m
Heath Fear
Executive VP & CFO2yrsUS$1.82m0.085%
$ 1.1m
David Buell
Senior VP & Chief Accounting Officer2.83yrsUS$406.46kno data
Jason Colton
Senior Vice President of Capital Markets0.83yrno datano data
Bryan McCarthy
Senior Vice President of Marketing & Communications2.75yrsno datano data
Mellissa Boggs
Executive Vice President of Employee Experience0.75yrno datano data
Mark Jenkins
Senior Vice President of Developmentno datano datano data
Mitch Rippe
Senior Vice President of Acquisition & Dispositionno datano datano data
Gregg Poetz
Senior Vice President of Leasingno datano datano data
Matthew Gabet
Senior Vice President of Operational Strategyno datano datano data
Randy Burke
Senior Vice President of Constructionno datano datano data

2.8yrs

Average Tenure

52.5yo

Average Age

Experienced Management: KRG's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Kite
Chairman & CEO16.25yrsUS$6.00m0.046%
$ 601.5k
Victor Coleman
Independent Trustee8yrsUS$177.49k0.067%
$ 885.2k
William Bindley
Lead Independent Trustee16.25yrsUS$212.49k0.22%
$ 3.0m
Caroline Young
Independent Trustee0.50yrno data0.015%
$ 203.3k
Charles Wurtzebach
Independent Trustee6.33yrsUS$184.99k0.052%
$ 688.0k
Barton Peterson
Independent Trustee7yrsUS$174.99k0.067%
$ 874.2k
Christie Kelly
Independent Trustee7.5yrsUS$172.49k0.050%
$ 656.8k
David O'Reilly
Independent Trustee7.25yrsUS$182.49k0.047%
$ 611.5k
Lee Daniels
Independent Trustee6.33yrsUS$167.49k0.048%
$ 625.8k

7.3yrs

Average Tenure

58yo

Average Age

Experienced Board: KRG's board of directors are considered experienced (7.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Kite Realty Group Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kite Realty Group Trust
  • Ticker: KRG
  • Exchange: NYSE
  • Founded: 1968
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.313b
  • Market Cap: US$1.279b
  • Shares outstanding: 86.44m
  • Website: https://www.kiterealty.com

Number of Employees


Location

  • Kite Realty Group Trust
  • 30 South Meridian Street
  • Suite 1100
  • Indianapolis
  • Indiana
  • 46204
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KRGNYSE (New York Stock Exchange)YesCommon StockUSUSDAug 2004
FGC1DB (Deutsche Boerse AG)YesCommon StockDEEURAug 2004

Biography

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 r...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/26 23:38
End of Day Share Price2020/11/25 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.