BTIG analyst Michael Gorman has maintained their neutral stance on KRG stock, giving a Hold rating on February 4.
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Michael Gorman’s rating is based on a blend of positive and cautious elements related to Kite Realty Group’s recent performance and future outlook. The company reported fourth-quarter results that exceeded expectations, with FFO per share slightly surpassing both the firm’s and consensus estimates. This indicates solid performance in the latter part of 2024, characterized by strong retail fundamentals such as significant SSNOI growth and robust leasing spreads.
However, Gorman has opted for a Hold rating due to concerns about the company’s 2025 guidance, which presents a more conservative outlook. The forecasted Core FFO per share range falls short of consensus expectations and suggests a slight decline compared to the previous year. This is partly due to anticipated disruptions from recent anchor bankruptcies, which are expected to impact revenue growth. Despite the strong fundamentals, the potential for near-term turnover and revenue disruption has led to a cautious stance, warranting a Hold recommendation.
In another report released on February 4, Jefferies also maintained a Hold rating on the stock with a $25.00 price target.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KRG in relation to earlier this year.