Kite Realty Gr Trust (NYSE:KRG) Stock, Quote.Headers.trade-ideas

Kite Realty Gr Trust

Kite Realty Group Trust specializes in owning, operating, acquiring, developing, and redeveloping high-quality open-air shopping centers and mixed-use assets. The company generates the majority of its revenue from contractual rents and reimbursement payments received from tenants.

mall holiday shopping shutter

REIT

Real Estate

2 Top Retail REITs With Yields Of 4% Or More To Buy in June

Earnings

News

Small Cap

Markets

Analyst Ratings

Trading Ideas

Realty Income (NYSE: O) has announced an increase in its 2024 earnings and investment guidance. The retail REIT now projects its 2024 adjusted funds from operations (AFFO) in the range of $4.15-$4.21 per share compared with the prior guidance range of $4.13-$4.21 per share.


Realty Income Lifts &#39;24 Investment Guidance, Raises AFFO View

Simon Property Group (NYSE: SPG) recently announced a reinvestment to incorporate luxury living at San Diego&#39;s top shopping destination, Fashion Valley.

Simon Property Announces a Revamp of Fashion Valley

Kite Realty Group Trust

Compass Point analyst Floris Van Dijkum maintains Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) with a Buy and raises the price target from $29 to $32.

Price Target

Compass Point Maintains Buy on Kite Realty Gr Trust, Raises Price Target to $32

Piper Sandler analyst Alexander Goldfarb maintains Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) with a Overweight and raises the price target from $30 to $33.

Piper Sandler Maintains Overweight on Kite Realty Gr Trust, Raises Price Target to $33

Wells Fargo analyst Dori Kesten upgrades Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) from Underweight to Equal-Weight and raises the price target from $23 to $26.

Upgrades

Wells Fargo Upgrades Kite Realty Gr Trust to Equal-Weight, Raises Price Target to $26

In the latest quarter, 4 analysts provided ratings for Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>), showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Kite Realty Gr Trust, presenting an average target of $26.25, a high estimate of $28.00, and a low estimate of $23.00. This upward trend is apparent, with the current average reflecting a 9.38% increase from the previous average price target of $24.00.
<img src="https://www.benzinga.com/files/images/story/2024/1724155251_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Kite Realty Gr Trust. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Todd Thomas</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$28.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>RJ Milligan</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$28.00</td>
<td>-</td>
</tr>
<tr>
<td>Wesley Golladay</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$26.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Dori Kesten</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$23.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Kite Realty Gr Trust. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Kite Realty Gr Trust compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Kite Realty Gr Trust's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Kite Realty Gr Trust's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/KRG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kite Realty Gr Trust analyst ratings.</a>
<h2>Delving into Kite Realty Gr Trust's Background</h2>
Kite Realty Group Trust specializes in owning, operating, acquiring, developing, and redeveloping high-quality open-air shopping centers and mixed-use assets. The company generates the majority of its revenue from contractual rents and reimbursement payments received from tenants.
<h3>Breaking Down Kite Realty Gr Trust's Financial Performance</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Kite Realty Gr Trust displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 1.76%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Kite Realty Gr Trust's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -22.9%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Kite Realty Gr Trust's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -1.4%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Kite Realty Gr Trust's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -0.69%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Kite Realty Gr Trust's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.94.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 4 Analyst Ratings Have To Say About Kite Realty Gr Trust

Keybanc analyst Todd Thomas maintains Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) with a Overweight and raises the price target from $25 to $28.

Keybanc Maintains Overweight on Kite Realty Gr Trust, Raises Price Target to $28

Raymond James analyst RJ Milligan upgrades Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) from Market Perform to Outperform and announces $28 price target.

Raymond James Upgrades Kite Realty Gr Trust to Outperform, Announces $28 Price Target

Baird analyst Wesley Golladay maintains Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) with a Neutral and raises the price target from $25 to $26.

Baird Maintains Neutral on Kite Realty Gr Trust, Raises Price Target to $26

Guidance

Kite Realty Group Sees FY24 NAREIT FFO From $2.02-$2.08 To $2.04-$2.08

Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.50 by 6 percent. The company reported quarterly sales of $212.434 million which beat the analyst consensus estimate of $207.534 million by 2.36 percent. This is a 1.76 percent increase over sales of $208.759 million the same period last year.

Earnings Beats

Kite Realty Gr Trust Q2 2024 FFO $0.53 Beats $0.50 Estimate, Sales $212.434M Beat $207.534M Estimate

Kite Realty Group Trust Upgraded by S&P To BBB With Stable Outlook

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields up to 4.5% that you could buy today.
<h2 class="wp-block-heading">Kite Realty Group Trust</h2>
Kite Realty Group Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) owns or has ownership interests in a portfolio of <a href="https://s25.q4cdn.com/292140124/files/doc_financials/2024/q1/KRG-Investor-Update-1Q-2024.pdf">180</a> open-air shopping centers and mixed-use assets containing approximately 28 million square feet. Its portfolio is situated across major markets in the Sun Belt region, including Atlanta, Charlotte, Dallas, Houston, Las Vegas, Miami, Orlando, Phoenix, and San Antonio.
Don't Miss:
<ul>
<li>New fund backed by Jeff Bezos offers a 7-9% target yield with monthly dividends. <a href="https://www.benzinga.com/money/arrived-private-credit-fund">Here's how you can invest today</a>.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." These <a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail">high-yield real estate notes that pay 7.5% &#8211; 9%</a> make earning passive income easier than ever. </li>
</ul>
Kite Realty currently pays a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 per share and giving its stock a yield of about 4.5% at the time of this writing. 
Kite Realty is also an up-and-coming dividend-growth star. It has raised its annual dividend payment each of the last three years, and its 4.2% hike in October has it on track for 2024 to mark the fourth consecutive year with an increase.
Trending: Boomers and Gen Z agree they need a salary of around $125,000 a year to be happy, <a href="https://www.benzinga.com/money/genz-salary-adv">but millennials say they need how much?</a>
<h2 class="wp-block-heading">Tanger Inc.</h2>
Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) owns and operates a portfolio of 38 outlet centers and one open-air lifestyle center consisting of over 15 million square feet across tourist destinations and other high-traffic markets in 20 U.S. states and Canada. Its outlet centers have over 3,000 stores operated by more than 700 brand name companies, including Nike, Ulta, Lululemon, Dick's, Disney, and Crocs.
Tanger currently pays a quarterly dividend of $0.275 per share, equating to an annualized dividend of $1.10 per share, which gives its stock a yield of about 4% at the time of this writing. 
In addition to being a high yielder, Tanger is an up-and-coming dividend-growth star. It has raised its annual dividend for two consecutive years, and its two hikes in the last eight months has it on pace for 2024 to mark the third consecutive year with an increase.
Keep Reading:
<ul>
<li>Private credit offers up to <a href="https://www.benzinga.com/money/percent">20% APY to potential accredited investor</a>s looking to capitalize on this growing asset class.</li>
<li>Miami is expected to take New York's place as the U.S. Financial Capital. <a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital">Here's how you can invest in the city with as little as $500</a> before that happens.</li>
</ul>
Image Credit: Shutterstock

Offerings

Kite Realty Group Trust Files For Offering Of Up To 9.9M Common Shares

Realty Income (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/o#NYSE">O</a>) has announced an increase in its 2024 earnings and investment guidance. The retail REIT now projects its 2024 adjusted funds from operations (AFFO) in the range of $4.15-$4.21 per share compared with the prior guidance range of $4.13-$4.21 per share. 
Realty Income also expects its 2024 investment volume to reach $3 billion, up from $2 billion guided earlier. Per management, these raises reflect the company&#39;s confidence in its business outlook as it nears the midpoint of the year. 
Specifically, management noted that these increases stem from an improving investment environment, mainly in Europe. Also, management pointed out the company&#39;s stable operating performance in its high-quality, diversified global real estate portfolio. 
Realty Income&#39;s accretive buyouts, backed by a healthy balance sheet, bode well for long-term growth. The solid property acquisitions volume at decent investment spreads has aided the company&#39;s performance so far. Further, it has a healthy operating platform. 
Realty Income&#39;s first-quarter 2024 AFFO per share of $1.03 was in line with the Zacks Consensus Estimate. The reported figure also compared favorably with the prior-year quarter&#39;s 93 cents per share. 
Results display better-than-anticipated top-line growth. The company benefited from expansionary effects and a healthy pipeline of opportunities globally. 
Total revenues were $1.26 billion, which outpaced the Zacks Consensus Estimate of $1.19 billion. The top line rose 33.5% year over year. 
Realty Income&#39;s portfolio comprises a significant portion of top industries selling essential goods and services. It enjoys a well-diversified tenant base and derives the majority of its annualized contractual rents from tenants with a service, non-discretionary and/or a low-price-point component to their business, assuring stable revenue generation. However, a high interest rate environment raises concerns. 
Shares of this Zacks Rank #3 (Hold) company have risen 4.2% in the past three months against the industry&#39;s decline of 5.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a2/68202.jpg?v=1621203197" /> 
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the retail REIT sector are Kite Realty Group Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/krg#NYSE">KRG</a>) and Acadia Realty Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/akr#NYSE">AKR</a>), each currently carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for KRG&#39;s 2024 funds from operations (FFO) per share has been revised a cent northward over the past month to $2.05. 
The consensus estimate for AKR&#39;s current-year FFO per share has been revised a cent upward over the past two months to $1.28. 
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2283870/realty-income-o-lifts-24-investment-guidance-raises-affo-view?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2283870">To read this article on Zacks.com click here.</a>

Realty Income Lifts '24 Investment Guidance, Raises AFFO View

Wells Fargo analyst Dori Kesten maintains Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) with a Underweight and raises the price target from $22 to $23.

Wells Fargo Maintains Underweight on Kite Realty Gr Trust, Raises Price Target to $23

Simon Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) recently announced a reinvestment to incorporate luxury living at San Diego&#39;s top shopping destination, Fashion Valley.
The move aims to boost foot traffic and sales and attract top-tier tenants, fortifying its place in the retail real estate market and ensuring long-term value creation.
Fashion Valley, as part of a mixed-use redevelopment project, will soon feature 850 multi-family luxury residences with the help of apartment developer AMLI Residential. The project will also include 100,000 square feet of new retail and dining experiences to complement fresh and lush open green spaces and ample parking for residents and guests.
Per Mark Silvestri, president of Development at Simon Property, &quot;Simon is leading the evolution of today&#39;s retail landscape with the strategic transformation of key properties across the country. We&#39;re excited about this next phase of Fashion Valley as we continue to reinvest and add a walkable, livable lifestyle community that is intertwined with handpicked luxury brands that can only be found here. This redevelopment marks a new era of sophistication and convenient living in San Diego.&quot;
This retail and residential revitalization project is expected to commence promptly after the scheduled closure of JCPenney by the end of 2025, with an estimated completion date in late 2026.
Fashion Valley has recently undergone a multimillion-dollar revitalization, enhancing the shopping experience with a fresh new appearance and the introduction of exclusive luxury brands such as Dior, Bottega Veneta, David Yurman, and Dolce &amp; Gabbana. Additionally, it has been revealed that three more luxury brands will be added to the lineup, including Celine in the second quarter of 2024, Christian Louboutin, and Fendi in 2025.
Last week, Simon Property announced reinvestment plans for Houston&#39;s iconic The Galleria, underscoring its strategy to enhance its property portfolio. Upgrades will commence this summer and are slated for completion by early 2025.
In April 2024, the company also announced enhancements to its Woodbury Common Premium Outlets shopping center as part of a broader redevelopment initiative.
Simon Property has been restructuring its portfolio, aiming at premium acquisitions and transformative redevelopments. In fact, over the past years, the company has been investing billions to transform its properties, focusing on creating value and driving footfall.
Solid retail-real-estate demand for premium properties is likely to drive healthy demand for its properties, aiding leasing activity, occupancy levels and rent growth. Focus on supporting omnichannel retailing and developing mixed-use assets are encouraging. A healthy balance sheet will likely aid growth endeavors. However, growing e-commerce adoption and high interest rates remain concerns.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have declined 3.4%, narrower than the industry&#39;s decline of 5.5%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ea/67183.jpg?v=1800421213" /> 
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the retail REIT sector are Kite Realty Group Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/krg#NYSE">KRG</a>) and Acadia Realty Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/akr#NYSE">AKR</a>), each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for KRG&#39;s 2024 funds from operations (FFO) per share has been revised a cent northward over the past week to $2.05.
The Zacks Consensus Estimate for AKR&#39;s current-year FFO per share has been revised a cent upward over the past month to $1.28.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2276853/simon-property-spg-announces-a-revamp-of-fashion-valley?cid=CS-BENZ-FT-analyst_blog|company_news_-_finance_sector-2276853">To read this article on Zacks.com click here.</a>

2024 Earnings Guidance The Company expects to generate net income attributable to common shareholders of $0.30 to $0.36 per diluted share in 2024. The Company is raising its 2024 NAREIT FFO guidance range to $2.02 to $2.08 per diluted share from $2.00 to $2.06 per diluted share, based, in part, on the following assumptions:
<ul>
<li>2024 Same Property NOI range of 1.5% to 2.5%, which represents a 50-basis point increase at the midpoint.</li>
<li>Full-year bad debt assumption of 0.55% to 1.05% of total revenues, which represents a 20-basis point decrease at the midpoint.</li>
</ul>
The following table reconciles the Company's 2024 net income guidance range to the Company's 2024 NAREIT FFO guidance range:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Low</td>
<td>High</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net income</td>
<td>$0.30</td>
<td>$0.36</td>
</tr>
<tr>
<td>Depreciation and amortization</td>
<td>1.73</td>
<td>1.73</td>
</tr>
<tr>
<td>Realized gains and losses on sales of operating and unconsolidated properties, net</td>
<td>(0.01)</td>
<td>(0.01)</td>
</tr>
<tr>
<td>NAREIT FFO</td>
<td>$2.02</td>
<td>$2.08</td>
</tr>
</tbody>
</table>
</figure>

Kite Realty Group Trust Sees FY24 Net Income $0.30-$0.36; Updates Nareit FFO From $2.00-$2.06 To $2.02-$2.08

Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) reported quarterly earnings of $0.50 per share which met the analyst consensus estimate. This is a 1.96 percent decrease over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $207.44 million which missed the analyst consensus estimate of $207.86 million by 0.20 percent. This is a 0.33 percent increase over sales of $206.75 million the same period last year.

Earnings Misses

Kite Realty Gr Trust Q1 FFO $0.50, Inline, Sales $207.44M Miss $207.86M Estimate

U.S. residential home prices <a href="https://www.benzinga.com/money/best-reits">accelerated in February</a>.
Prices defied the gravitational pull of high mortgage costs and surpassed analysts&#8217; expectations as reduced supply and robust economic momentum continued to drive up property valuations.
U.S. house prices saw a 1.2% month-over-month growth in February 2024, the largest increase in a single month since April 2022, significantly outpacing expectations of a 0.1% growth, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30120316/image-255-1024x495.png" alt="" class="wp-image-315865" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30120316/image-255-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30120316/image-255-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30120316/image-255-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30120316/image-255-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30120316/image-255.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Home Prices &#8216;Rebounded&#8217;</h3>
Across the nine census divisions, the seasonally adjusted monthly price changes from January 2024 to February 2024 ranged from a 0.4% growth in the West South Central division to a 3.0% growth in the New England division.
For the broader country, single-family house prices increased by 7% from February 2023 to February 2024, marking the highest one-year increase since November 2022. All census divisions reported positive 12-month changes, ranging from 3.7% in the West South Central division to 10.8% in the Middle Atlantic division.
Dr. Anju Vajja, deputy director for FHFA's division of research and statistics, noted, "U.S. house prices rebounded with an increase in February, after declining slightly in January.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Region</td>
<td>FHFA HPI (MoM Chg) </td>
<td>FHFA HPI (YoY Chg)</td>
</tr>
<tr>
<td>U.S.</td>
<td>1.2%</td>
<td>7.0%</td>
</tr>
<tr>
<td>Pacific</td>
<td>1.3%</td>
<td>6.6%</td>
</tr>
<tr>
<td>Mountain</td>
<td>0.4%</td>
<td>4.4%</td>
</tr>
<tr>
<td>West North Central</td>
<td>1.1%</td>
<td>7.3%</td>
</tr>
<tr>
<td>West South Central</td>
<td>0.4%</td>
<td>3.7%</td>
</tr>
<tr>
<td>East North Central</td>
<td>0.9%</td>
<td>8.9%</td>
</tr>
<tr>
<td>East South Central</td>
<td>1.2%</td>
<td>4.9%</td>
</tr>
<tr>
<td>New England</td>
<td>3.0%</td>
<td>10.5%</td>
</tr>
<tr>
<td>Middle Atlantic</td>
<td>2.6%</td>
<td>10.8%</td>
</tr>
<tr>
<td>South Atlantic</td>
<td>1.4%</td>
<td>7.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: FHFA</figcaption></figure>
Separately, S&amp;P Global released a report Tuesday, tracking the 20-city home price index. It revealed a similar trend nationwide: 
<ul>
<li>Prices up 7.3% year-on-year, the highest since October 2022 and surpassing expectations of a 6.7% increase.</li>
<li>San Diego (11.4%), Chicago (8.9%), and Detroit (8.9%) saw the largest one-year price increases.</li>
<li>19 of the 20 markets saw month-on-month increases; San Diego (1.7%), San Francisco (1.7%), and Portland (1.2%) recorded the sharpest rises</li>
<li>The Tampa housing market was the only one to experience a decrease.</li>
</ul>
<h3 class="wp-block-heading">All-Time Highs</h3>
Brian D. Luke, head of commodities, real and digital assets at S&amp;P Dow Jones Indices, remarked, "Following last year's decline, U.S. home prices are at or near all-time highs. Our National Composite rose by 6.4% in February, the fastest annual rate since November 2022. Our 10- and 20-City Composite indices are currently at all-time highs. "
He added, "San Diego has been the best-performing market following the trough in home prices observed in early 2023. With Los Angeles rising for 13 consecutive months to record another new high, Southern California has outperformed its surrounding neighbors."
Market Reactions: Real estate stocks, as tracked by the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), inched 0.8% lower on Tuesday, weighed down by a broader negative sentiment on Wall Street as traders took a more cautious stance ahead of Wednesday&#8217;s Federal Open Market Committee (FOMC) meeting. 
NexPoint Residential Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXRT#NYSE">NXRT</a>), Redfin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NYSE">RDFN</a>), LTC Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTC#NYSE">LTC</a>), Kite Realty Group Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) and Brixmor Property Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRX#NYSE">BRX</a>) recorded the daily largest gains, ranging from 1.7% to 3.5%. 
Conversely, SBA Communications Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NYSE">SBAC</a>), The Macerich Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>), Sun Communities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUI#NYSE">SUI</a>), Orion Office REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONL#NYSE">ONL</a>) and Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) posted the widest daily losses ranging from 6.2% to 3.3%. 
Now Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38485545/top-3-real-estate-stocks-that-are-set-to-fly-in-april">Top 3 Real Estate Stocks That Are Set To Fly In April</a>

Equities

Large Cap

Macro Economic Events

Macro Notification

Mid Cap

Sector ETFs

Econ #s

Economics

ETFs

NXRT

OPEN

RDFN

SBAC

US Home Prices Rocket In February For Strongest One-Month Increase In 2 Years: Real Estate Stocks React

Jefferies analyst Linda Tsai upgrades Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) from Hold to Buy and maintains the price target from $23 to $23.

Jefferies Upgrades Kite Realty Gr Trust to Buy, Maintains Price Target to $23

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields over 4.5% that you could buy today.
<h2 class="wp-block-heading">NexPoint Residential Trust, Inc.</h2>
NexPoint Residential Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXRT#NYSE">NXRT</a>) owns and manages a portfolio of 39 multifamily properties consisting of 14,485 units across 11 markets in the Southern U.S., including Charlotte, Dallas-Fort Worth, Houston, Las Vegas, Orlando, Phoenix, Raleigh, and Tampa.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Elon Musk Is Bullish On Austin. Here&#8217;s <a href="https://www.benzinga.com/go/musk-austin">How To Invest In The City&#8217;s Growth Before He Floods It With New Tech Workers</a>.</li>
</ul>
NexPoint currently pays a quarterly dividend of $0.46242 per share, equating to an annualized dividend of about $1.85 per share and giving its stock a yield of about 5.9% at the time of this writing.&nbsp;
In addition to being a high yielder, NexPoint is a dividend-growth machine. It has raised its annual dividend payment each of the last eight years, and its 10.1% in October has it on pace for 2024 to mark the ninth consecutive year with an increase.
<h2 class="wp-block-heading">Trending</h2>
<ul>
<li>Whole Foods&#8217; Landlord Has Achieved A 15% Net IRR For Accredited Investors Since 2015 — <a href="https://www.benzinga.com/go/whole-foods-landlord">Discover The Latest Investment Opportunities On Its Platform</a>.</li>
</ul>
<h2 class="wp-block-heading">Kite Realty Group Trust</h2>
Kite Realty Group Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) owns or has ownership interests in a portfolio of 180 open-air shopping centers and mixed-use assets containing approximately 28.1 million square feet. Its portfolio is situated across major markets in the Sun Belt region, including Atlanta, Charlotte, Dallas, Houston, Las Vegas, Miami, Orlando, Phoenix, and San Antonio.
Kite Realty currently pays a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 per share and giving its stock a yield of about 4.7% at the time of this writing.&nbsp;
Kite Realty is also an up-and-coming dividend-growth star. It has raised its annual dividend payment each of the last three years, and its 4.2% hike in October has it on track for 2024 to mark the fourth consecutive year with an increase.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/go/marcus-millichap-backed-platform">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new <a href="https://www.benzinga.com/go/dara-backed-startup">real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image Credit: Shutterstock

These Top REITs Have Yields Over 4.5% and Track Records of Dividend Growth

3 'Strong Buy' REITs With A Wide Margin Of Safety

Kite Realty, Phillips Edison upgraded at Wells Fargo on FFO growth

Whitestone REIT: Southwest's Growing Pains Will Be Retail Landlords' Growing Gains

Piper Sandler analyst Alexander Goldfarb maintained a Buy rating on Kite Realty Group (KRG – Research Report) today and set a price target of $33.0...

Piper Sandler Reaffirms Their Buy Rating on Kite Realty Group (KRG)

Retail REITs: Steady consumer spending underpinned improved Q2 demand for shopping spaces

In a report released today, Floris van Dijkum from Compass Point maintained a Buy rating on Kite Realty Group (KRG – Research Report), with a price...

Kite Realty Group (KRG) Gets a Buy from Compass Point

Shopping Center REITs Are Hot: Pick A Winner

In a report released today, Alexander Goldfarb from Piper Sandler maintained a Buy rating on Kite Realty Group (KRG – Research Report), with a pric...

Piper Sandler Keeps Their Buy Rating on Kite Realty Group (KRG)

If I Was Retiring In 10-20 Years With 10 REITs - Part 3

Best Real Estate growth stocks as the sector is seeing a revival

ALEX

CBRE

EBIZ

EMTY

EPRT

GLPI

IBUY

NTST

ONLN

PECO

PINE

PLYM

RETL

ROIC

SBRA

SITC

STAG

VICI

WAVE

XLRE

Press Releases

Fitch Upgrades Kite Realty Group Trust's Rating Outlook to 'Positive' from 'Stable'

Kite Realty Group Trust to Report First Quarter 2024 Financial Results on April 30, 2024

Kite Realty Group Trust Reports First Quarter 2024 Operating Results

Kite Realty Group Trust to Report Second Quarter 2024 Financial Results on July 30, 2024

Kite Realty Group Trust Publishes Annual Corporate Responsibility Report

General

Kite Realty Group Trust Upgraded by S&P to BBB with Stable Outlook

Dividends

Kite Realty Group Trust Reports Second Quarter 2024 Operating Results

Kite Realty Group Announces Pricing of $350 Million Senior Notes Offering

MarineMax Appoints Bonnie Biumi to Board of Directors

Kite Realty Group to Present at the BofA Securities 2024 Global Real Estate Conference

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Kite Realty Gr Trust

Kite Realty Gr Trust (KRG) Forecast

Kite Realty Gr Trust (NYSE:KRG) Stock, Quote.Headers.trade-ideas