Kite Realty Group Trust Stock Research

Market Summary

USD21.57+0.54

Market Closed

2.57%

KRG Stock Price

KRG RSI Chart

KRG Valuation

Market Cap

4.7B

Price/Earnings (Trailing)

-42.67

Price/Sales (Trailing)

6.22

Price/Free Cashflow

18.25

KRG Price/Sales (Trailing)

KRG Profitability

Return on Equity

-2.86%

Return on Assets

-1.5%

Free Cashflow Yield

5.48%

KRG Fundamentals

KRG Revenue

Revenue (TTM)

760.3M

Revenue Y/Y

180.29%

Revenue Q/Q

-1.13%

KRG Earnings

Earnings (TTM)

-110.7M

Earnings Y/Y

-12.6%

Earnings Q/Q

-159.68%

Price Action

52 Week Range

16.2223.10

(Low)(High)

Last 7 days

5.0%

Last 30 days

4.3%

Last 90 days

11.1%

Trailing 12 Months

8.5%

KRG Financial Health

Debt/Equity

0.78

Debt/Cashflow

0.09

KRG Investor Care

Dividend Yield

3.66%

Dividend/Share (TTM)

0.79

Shares Dilution (1Y)

159.11%

Diluted EPS (TTM)

-0.99

Peers (Alternatives to Kite Realty Group Trust)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PSA	52.5B	4.0B	7.67%	-8.93%	11.52	13.06	24.01%	170.44%
SPG	36.1B	4.0B	11.78%	-8.09%	14.04	7.05	-3.96%	-2.35%
DLR	32.0B	4.6B	11.98%	-21.93%	22.2	7	4.35%	106.20%
ARE	23.9B	2.5B	12.96%	-11.45%	44.1	9.58	24.01%	-42.18%
EQR	23.8B	2.7B	8.93%	-25.05%	20.82	8.78	11.91%	8.14%
KIM	13.1B	1.7B	-4.07%	-13.87%	50.83	7.71	40.37%	-73.28%
MID-CAP
FRT	9.0B	1.0B	11.82%	-6.19%	23.51	8.63	14.39%	59.45%
KRG	4.7B	760.3M	4.25%	8.52%	-42.67	6.22	172.75%	-1146.68%
VNO	4.5B	-	12.49%	-36.11%	28.41	13.26	-77.01%	441.99%
MAC	2.9B	828.2M	23.71%	-12.14%	-34.67	3.55	9.54%	46.68%
SLG	2.6B	-	20.65%	-40.24%	-39.69	2.65	-9.84%	-109.68%
SKT	2.0B	-	9.49%	23.30%	23.66	4.36	4.67%	1705.32%
SMALL-CAP
PGRE	1.4B	740.6M	12.63%	-22.19%	528.1	1.92	2.16%	107.41%
AIV	1.1B	195.1M	8.56%	15.83%	3.83	5.82	20.60%	1640.65%

Financials for Kite Realty Group Trust

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	20.4%	760	631	498	373	279
Operating Expenses	41.0%	103	73	41	-	-
S&GA Expenses	14.5%	52	46	40	34	35
Interest Expenses	15.3%	101	87	74	60	50
Net Income	-0.8%	-110.75	-109.87	-123.24	-80.81	11
Net Income Margin	15.5%	-0.15*	-0.17*	-0.25*	-0.22*	-
Free Cahsflow	38.3%	259	187	119	100	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	0.2%	7,400	7,385	7,574	7,640	2,709
Cash Equivalents	-2.6%	88	91	74	93	104
Liabilities	1.0%	3,465	3,431	3,610	3,657	1,456
Long Term Debt	0.4%	3,013	3,001	3,179	3,151	1,289
Shareholder's Equity	-0.5%	3,873	3,891	3,899	3,922	1,199
Retained Earnings	-5.1%	-1,105.84	-1,051.99	-1,021.32	-962.91	-849.51
Additional Paid-In Capital	0.1%	4,904	4,901	4,895	4,899	2,070
Shares Outstanding	0.0%	219	219	219	219	85
Minority Interest	1.5%	5	5	5	5	1

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	38.3%	259	187	119	100	114
Share Based Compensation	6.0%	9	9	8	7	7
Cashflow From Investing	-94.4%	4	77	-187.10	-91.03	-173.97
Cashflow From Financing	-4.4%	-270.58	-259.28	-81.87	44	27
Dividend Payments	26.6%	147	116	86	58	49
Buy Backs	0%	16	16	16	15	1

Risks for KRG

What is the probability of a big loss on KRG?

55%

Probability that Kite Realty Group Trust stock will be more than 20% underwater in next one year

27.7%

Probability that Kite Realty Group Trust stock will be more than 30% underwater in next one year.

19.6%

Probability that Kite Realty Group Trust stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does KRG drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Kite Realty Group Trust was unfortunately bought at previous high price.

Drawdowns

Returns for KRG

Cumulative Returns on KRG

4.2%

10-Year Cumulative Returns

2.6%

7-Year Cumulative Returns

10.2%

5-Year Cumulative Returns

9.8%

3-Year Cumulative Returns

What are the long-term rolling returns for KRG?

FIve years rolling returns for Kite Realty Group Trust.

Annualized Returns

Which funds bought or sold KRG recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-26	CENTRAL TRUST Co	unchanged	-	6,259	35,259	-%
2023-01-26	Inspire Investing, LLC	reduced	-7.35	27,949	235,949	0.03%
2023-01-26	Accel Wealth Management	added	1.18	4,695	30,695	0.01%
2023-01-26	DUPONT CAPITAL MANAGEMENT CORP	added	17.37	199,949	660,949	0.03%
2023-01-26	State of Tennessee, Treasury Department	added	77.78	1,332,000	3,061,000	0.01%
2023-01-26	SkyOak Wealth, LLC	unchanged	-	67,837	374,837	0.13%
2023-01-26	STRS OHIO	reduced	-7.91	1,849,000	16,550,000	0.07%
2023-01-26	OREGON PUBLIC EMPLOYEES RETIREMENT FUND	added	0.88	256,851	1,357,850	0.02%
2023-01-26	Sumitomo Mitsui DS Asset Management Company, Ltd	added	6.94	150,320	638,320	0.01%
2023-01-26	COMERICA BANK	reduced	-3.96	292,000	2,884,000	0.02%

Latest Funds Activity

Are funds buying KRG calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own KRG

No. of Funds

Kite Realty Group Trust News

Schedule 13G FIlings of Kite Realty Group Trust

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jan 26, 2023	blackrock inc.	14.0%	30,712,023	SC 13G/A
Jan 20, 2023	blackrock inc.	14.0%	30,712,023	SC 13G/A
Jan 11, 2023	jpmorgan chase & co	6.9%	15,170,251	SC 13G
Feb 14, 2022	macquarie group ltd	2.93%	6,425,026	SC 13G/A
Feb 11, 2022	state street corp	5.24%	11,479,726	SC 13G/A
Feb 08, 2022	fuller & thaler asset management, inc.	3.12%	6,830,656	SC 13G/A
Jan 27, 2022	blackrock inc.	13.9%	30,549,057	SC 13G/A
Jan 25, 2022	blackrock inc.	13.9%	30,549,057	SC 13G
Feb 12, 2021	macquarie group ltd	6.16%	5,193,491	SC 13G/A
Feb 11, 2021	fuller & thaler asset management, inc.	5.26%	4,426,659	SC 13G

KRG Fair Value

Recent SEC filings of Kite Realty Group Trust

View All Filings

Date Filed	Form Type	Document
Jan 26, 2023	SC 13G/A	Major Ownership Report
Jan 20, 2023	SC 13G/A	Major Ownership Report
Jan 11, 2023	SC 13G	Major Ownership Report
Jan 03, 2023	4	Insider Trading
Jan 03, 2023	4	Insider Trading
Dec 02, 2022	4	Insider Trading
Nov 23, 2022	4	Insider Trading
Nov 22, 2022	4	Insider Trading
Nov 09, 2022	4	Insider Trading
Nov 04, 2022	10-Q	Quarterly Report

Latest Insider Trading transactions for KRG

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-03	COLEMAN VICTOR J	acquired	-	-	564	-
2022-11-30	Grimes Steven P	sold	-289,343	22.35	-12,946	-
2022-11-23	Grimes Steven P	sold	-712,240	22.22	-32,054	-
2022-11-21	Grimes Steven P	sold	-1,012,300	21.77	-46,500	-
2022-11-18	Kite John A	acquired	-	-	85,000	chairman & ceo
2022-11-18	Kite John A	sold	-1,870,850	22.01	-85,000	chairman & ceo
2022-11-07	Heath R Fear	sold (taxes)	-390,978	21.11	-18,521	evp & chief financial officer
2022-10-03	COLEMAN VICTOR J	acquired	-	-	689	-
2022-09-14	GORSKI GERALD M	sold	-224,825	20.02	-11,230	-
2022-07-01	COLEMAN VICTOR J	acquired	-	-	686	-

About Kite Realty Group Trust

KRG Income Statement

2022-09-30

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - KRG Trust - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Rental income	$ 195,675	$ 70,216	$ 582,772	$ 206,097
Total revenue	200,311	71,465	597,307	210,374
Expenses:
Property operating	25,507	10,482	77,558	30,978
Real estate taxes	25,703	8,624	80,445	26,574
General, administrative and other	14,859	8,241	41,977	23,676
Merger and acquisition costs	108	9,198	1,006	9,958
Depreciation and amortization	115,831	30,193	357,096	90,625
Total expenses	182,008	66,738	558,082	181,811
Gain on sales of operating properties, net	0	1,260	27,126	27,517
Operating income	18,303	5,987	66,351	56,080
Interest expense	(26,226)	(12,878)	(77,449)	(37,386)
Income tax benefit of taxable REIT subsidiary	0	91	259	308
Equity in earnings (loss) of unconsolidated subsidiaries	144	(196)	(56)	(758)
Other income (expense), net	58	168	(207)	189
Net (loss) income	(7,721)	(6,828)	(11,102)	18,433
Net income attributable to noncontrolling interests	(116)	(132)	(408)	(1,058)
Net (loss) income attributable to common shareholders/unitholders	$ (7,837)	$ (6,960)	$ (11,510)	$ 17,375
Net (loss) income per common share
Net (loss) income per common share - basic (in USD per share)	$ (0.04)	$ (0.08)	$ (0.05)	$ 0.21
Net (loss) income per common share - diluted (in USD per share)	$ (0.04)	$ (0.08)	$ (0.05)	$ 0.20
Weighted average common shares outstanding - basic (in shares)	219,103,669	84,556,689	219,053,320	84,468,519
Weighted average common shares outstanding - diluted (in shares)	219,103,669	84,556,689	219,053,320	85,383,849
Dividends per common share (in USD per share)	$ 0.21	$ 0.18	$ 0.60	$ 0.50
Net (loss) income	$ (7,721)	$ (6,828)	$ (11,102)	$ 18,433
Change in fair value of derivatives	33,131	1,919	89,628	8,653
Total comprehensive income (loss)	25,410	(4,909)	78,526	27,086
Comprehensive income attributable to noncontrolling interests	(511)	(173)	(1,441)	(1,302)
Comprehensive income (loss) attributable to the Company/common unitholders	24,899	(5,082)	77,085	25,784
Other property-related revenue
Revenue:
Other revenue	3,013	1,054	7,932	3,133
Fee income
Revenue:
Other revenue	$ 1,623	$ 195	$ 6,603	$ 1,144

KRG Balance Sheet

2022-09-30

Consolidated Balance Sheets (Unaudited) - KRG Trust - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Investment properties, at cost	$ 7,715,516	$ 7,592,348
Less: accumulated depreciation	(1,093,912)	(884,809)
Net investment properties	6,621,604	6,707,539
Cash and cash equivalents	88,447	93,241
Tenant and other receivables, including accrued straight-line rent of $40,716 and $28,071, respectively	86,593	68,444
Restricted cash and escrow deposits	8,060	7,122
Deferred costs, net	441,924	541,518
Short-term deposits	0	125,000
Prepaid and other assets	142,757	84,826
Investments in unconsolidated subsidiaries	10,560	11,885
Total assets	7,399,945	7,639,575
Liabilities:
Mortgage and other indebtedness, net	3,012,870	3,150,808
Accounts payable and accrued expenses	152,015	184,982
Deferred revenue and other liabilities	300,009	321,419
Total liabilities	3,464,894	3,657,209
Commitments and contingencies
Limited Partners’ interests in Operating Partnership and other	56,954	55,173
Equity:
Common shares, $0.01 par value, 490,000,000 shares authorized, 219,098,394 and 218,949,569 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	2,191	2,189
Additional paid-in capital	4,903,773	4,898,673
Accumulated other comprehensive income (loss)	72,693	(15,902)
Accumulated deficit	(1,105,845)	(962,913)
Total shareholders’ equity/Partners’ equity	3,872,812	3,922,047
Noncontrolling interests	5,285	5,146
Total equity	3,878,097	3,927,193
Total liabilities and equity	$ 7,399,945	$ 7,639,575