NYSE:KRG

Stock Analysis Report

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.


Snowflake Analysis

Established dividend payer and fair value.


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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.2%

KRG

-0.07%

US REITs

-1.1%

US Market


1 Year Return

9.9%

KRG

16.6%

US REITs

17.8%

US Market

Return vs Industry: KRG underperformed the US REITs industry which returned 16.6% over the past year.

Return vs Market: KRG underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

KRGIndustryMarket
7 Day-4.2%-0.07%-1.1%
30 Day-7.0%3.6%1.5%
90 Day-11.0%6.9%6.6%
1 Year18.8%9.9%21.3%16.6%20.2%17.8%
3 Year-5.1%-23.9%37.4%20.2%47.5%38.1%
5 Year-17.7%-39.5%59.8%26.8%71.2%52.4%

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?

34.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KRG ($17.39) is trading below our estimate of fair value ($26.28)

Significantly Below Fair Value: KRG is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KRG is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: KRG is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate KRG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: KRG is good value based on its PB Ratio (1.1x) compared to the US REITs industry average (2.1x).


Next Steps

Future Growth

How is Kite Realty Group Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

100.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KRG is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: KRG is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: KRG's is expected to become profitable in the next 3 years.

Revenue vs Market: KRG's revenue is expected to decline over the next 3 years (-2.7% per year).

High Growth Revenue: KRG's revenue is forecast to decline over the next 3 years (-2.7% 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?

-43.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KRG is currently unprofitable.

Growing Profit Margin: KRG is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: KRG is unprofitable, and losses have increased over the past 5 years at a rate of -43.3% per year.

Accelerating Growth: Unable to compare KRG's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: KRG is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (7.6%).


Return on Equity

High ROE: KRG has a negative Return on Equity (0%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Kite Realty Group Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: KRG has a high level of physical assets or inventory.

Debt Coverage by Assets: KRG's debt is not covered by short term assets (assets are 0.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable KRG has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: KRG is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 42.8% per year.


Financial Institutions Analysis

Asset Level: KRG's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if KRG has a sufficient allowance for bad loans.

Low Risk Liabilities: KRG reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if KRG has an acceptable proportion of non-loan assets held.

Low Risk Deposits: KRG has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if KRG has an appropriate level of bad loans.


Next Steps

Dividend

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

7.37%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Kite Realty Group Trust before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company7.4%marketbottom25%1.4%markettop25%3.7%industryaverage3.5%forecastin3Years7.5%

Current dividend yield vs market & industry

Notable Dividend: KRG's dividend (7.3%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: KRG's dividend (7.3%) is in the top 25% of dividend payers in the US market (3.73%)


Stability and Growth of Payments

Stable Dividend: KRG's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (101.4%), KRG's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KRG's dividends in 3 years are forecast to be thoroughly covered by earnings (0.9% payout ratio).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

John Kite (53yo)

15.5yrs

Tenure

US$3,693,084

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 ($USD3.69M) is about average for companies of similar size in the US market ($USD3.81M).

Compensation vs Earnings: John's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
John Kite
Chairman & CEO15.5yrsUS$3.69m0.048% $716.6k
Thomas McGowan
President and Chief Operating Officer11.2yrsUS$1.62m0.099% $1.5m
Heath Fear
Executive VP & CFO1.3yrsUS$1.59m0.087% $1.3m
David Buell
Senior VP & Chief Accounting Officer2.1yrsUS$406.46k0.021% $309.6k
Scott Murray
Executive VP5.5yrsUS$1.18m0.018% $268.3k
Jason Colton
Senior Vice President of Capital Markets & Investor Relations0yrsno datano data
Bryan McCarthy
Senior Vice President of Marketing & Communications2yrsno datano data
Mellissa Boggs
Senior Vice President of Human Capital0yrsno datano data
Mark Jenkins
Senior Vice President of Development0yrsno datano data
Rick Lally
Senior Vice President of Construction0yrsno datano data

3.8yrs

Average Tenure

50yo

Average Age

Experienced Management: KRG's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Kite
Chairman & CEO15.5yrsUS$3.69m0.048% $716.6k
Victor Coleman
Independent Trustee7.3yrsUS$177.49k0.050% $748.0k
William Bindley
Lead Independent Trustee15.5yrsUS$212.49k0.21% $3.2m
Charles Wurtzebach
Independent Trustee5.6yrsUS$184.99k0.038% $567.7k
Barton Peterson
Independent Trustee6.3yrsUS$174.99k0.052% $780.6k
Christie Kelly
Independent Trustee6.8yrsUS$172.49k0.036% $532.1k
David O'Reilly
Independent Trustee6.5yrsUS$182.49k0.032% $480.1k
Lee Daniels
Independent Trustee5.6yrsUS$167.49k0.033% $496.5k

6.6yrs

Average Tenure

58.5yo

Average Age

Experienced Board: KRG's board of directors are considered experienced (6.6 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$1.497b
  • Market Cap: US$1.448b
  • Shares outstanding: 86.09m
  • 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
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 retailers in desirable markets through our portfolio of neighborhood, community, and lifestyle centers. Using operational, development, and redevelopment expertise, we continuously optimize our portfolio to maximize value and return to our shareholders. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 00:45
End of Day Share Price2020/02/24 00:00
Earnings2019/12/31
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.