Kite Realty Group Trust Valuation
Is KRG undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of KRG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: KRG ($27.19) is trading below our estimate of fair value ($29)
Significantly Below Fair Value: KRG is trading below fair value, but not by a significant amount.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for KRG?
Key metric: As KRG is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is KRG's PS Ratio? | |
|---|---|
| PS Ratio | 7.2x |
| Sales | US$827.40m |
| Market Cap | US$6.07b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 11.2x |
| Enterprise Value/EBITDA | 19.7x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does KRG's PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 9.5x | ||
SRC Spirit Realty Capital | 7.9x | 4.9% | US$6.0b |
ADC Agree Realty | 13.3x | 12.9% | US$8.0b |
PECO Phillips Edison | 7.4x | 6.1% | US$5.3b |
NNN NNN REIT | 9.4x | 4.3% | US$8.2b |
KRG Kite Realty Group Trust | 7.2x | 3.5% | US$6.1b |
Price-To-Sales vs Peers: KRG is good value based on its Price-To-Sales Ratio (7.2x) compared to the peer average (9.5x).
Price to Sales Ratio vs Industry
How does KRG's PS Ratio compare vs other companies in the US Retail REITs Industry?
| 4 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
WHLR Wheeler Real Estate Investment Trust | 0.05x | n/a | US$5.83m |
RVIC Retail Value | 0.1x | n/a | US$5.72m |
PRET.Q Pennsylvania Real Estate Investment Trust | 0.01x | n/a | US$2.98m |
SGIC Strategic Realty Trust | 0.2x | n/a | US$657.44k |
| 4 Companies | Estimated Growth | Market Cap |
|---|
Price-To-Sales vs Industry: KRG is expensive based on its Price-To-Sales Ratio (7.2x) compared to the US Retail REITs industry average (7.2x).
Price to Sales Ratio vs Fair Ratio
What is KRG's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 7.2x |
| Fair PS Ratio | 6.8x |
Price-To-Sales vs Fair Ratio: KRG is expensive based on its Price-To-Sales Ratio (7.2x) compared to the estimated Fair Price-To-Sales Ratio (6.8x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | US$27.19 | US$30.22 +11.2% | 7.4% | US$33.00 | US$26.00 | n/a | 9 |
| Nov ’25 | US$25.80 | US$28.56 +10.7% | 8.4% | US$33.00 | US$26.00 | n/a | 9 |
| Oct ’25 | US$26.26 | US$28.56 +8.7% | 8.4% | US$33.00 | US$26.00 | n/a | 9 |
| Sep ’25 | US$26.08 | US$27.33 +4.8% | 6.7% | US$30.00 | US$24.00 | n/a | 9 |
| Aug ’25 | US$24.78 | US$25.78 +4.0% | 9.1% | US$30.00 | US$23.00 | n/a | 9 |
| Jul ’25 | US$22.22 | US$25.70 +15.7% | 8.4% | US$30.00 | US$23.00 | n/a | 10 |
| Jun ’25 | US$21.92 | US$25.70 +17.2% | 8.4% | US$30.00 | US$23.00 | n/a | 10 |
| May ’25 | US$21.42 | US$25.50 +19.0% | 9.2% | US$30.00 | US$22.00 | n/a | 10 |
| Apr ’25 | US$21.19 | US$25.50 +20.3% | 9.2% | US$30.00 | US$22.00 | n/a | 10 |
| Mar ’25 | US$21.28 | US$25.67 +20.6% | 9.2% | US$30.00 | US$22.00 | n/a | 9 |
| Feb ’25 | US$21.72 | US$25.60 +17.9% | 8.8% | US$30.00 | US$22.00 | n/a | 10 |
| Jan ’25 | US$22.86 | US$25.50 +11.5% | 9.5% | US$30.00 | US$21.00 | n/a | 10 |
| Dec ’24 | US$22.00 | US$25.10 +14.1% | 9.2% | US$28.00 | US$21.00 | n/a | 10 |
| Nov ’24 | US$21.58 | US$25.40 +17.7% | 7.7% | US$28.00 | US$22.00 | US$25.80 | 10 |
| Oct ’24 | US$21.42 | US$25.50 +19.0% | 8.1% | US$28.00 | US$22.00 | US$26.26 | 10 |
| Sep ’24 | US$22.57 | US$25.45 +12.8% | 7.7% | US$28.00 | US$22.00 | US$26.08 | 11 |
| Aug ’24 | US$23.53 | US$24.82 +5.5% | 9.5% | US$28.00 | US$20.00 | US$24.78 | 11 |
| Jul ’24 | US$22.34 | US$24.91 +11.5% | 9.1% | US$28.00 | US$20.00 | US$22.22 | 11 |
| Jun ’24 | US$19.32 | US$24.73 +28.0% | 9.8% | US$28.00 | US$20.00 | US$21.92 | 11 |
| May ’24 | US$20.54 | US$24.80 +20.7% | 8.0% | US$27.00 | US$21.00 | US$21.42 | 10 |
| Apr ’24 | US$20.92 | US$25.00 +19.5% | 8.0% | US$27.00 | US$21.00 | US$21.19 | 9 |
| Mar ’24 | US$21.68 | US$25.00 +15.3% | 7.1% | US$27.00 | US$22.00 | US$21.28 | 9 |
| Feb ’24 | US$22.01 | US$25.10 +14.0% | 7.0% | US$27.00 | US$22.00 | US$21.72 | 10 |
| Jan ’24 | US$21.05 | US$25.00 +18.8% | 10.0% | US$27.00 | US$19.00 | US$22.86 | 10 |
| Dec ’23 | US$22.62 | US$24.70 +9.2% | 9.8% | US$27.00 | US$19.00 | US$22.00 | 10 |
| Nov ’23 | US$20.04 | US$24.30 +21.3% | 10.4% | US$27.00 | US$19.00 | US$21.58 | 10 |
Analyst Forecast: Target price is less than 20% higher than the current share price.
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