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Kite Realty Group Trust (KRG) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Real Estate•REIT - Retail
C
AverageMetricSide Score: 59/100
ProfitabilityProfit20/30
GrowthGrowth14/25
Balance SheetBalance8/25
Cash QualityCash17/20
Price & Volume
Market Cap $5.90B

Kite Realty Group is a real estate investment trust (REIT) that owns and operates a high-quality portfolio of open-air shopping centers and mixed-use destinations. The Company's portfolio is concentrated in high-growth Sun Belt and select strategic gateway markets. Publicly listed since 2004, KRG has more than six decades of experience in developing, operating, and investing in real estate, using a disciplined, hands-on approach to enhance portfolio quality and maximize long-term value for all stakeholders. As of March 31, 2026, the Company owned interests in 169 U.S. open-air shopping centers and mixed-use assets, comprising approximately 27.3 million square feet of gross leasable area. Kite Realty Group Trust was incorporated in 1971 in Maryland and based in Indianapolis.

Moat Signals

Competitive analysis based on 60 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging 15.3%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Cash Generation

Moderate Moat

7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 60 quarters

Some Concerns

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Healthy

D/E ratio is 1.0 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Healthy

Free cash flow is consistently positive — the business self-funds without external capital reliance.

Share Dilution

Healthy

Shares decreased 6.3% — net buybacks are reducing shares outstanding and boosting per-share value.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$823.30M
3.8%
Q. Revenue
$200.70M
TTM EBITDA
$489.32M
5.3%
TTM Op. Income
$131.78M
4.8%
Q. Op. Income
$42.43M
TTM Net Income
$286.33M
1998.4%
Q. Net Income
$11.39M
EPS
$0.06
Shares Out.
$205.69M
6.4%
$823.30M in TTM revenue declined 3.8% YoY, reaching $200.70M last quarter. TTM EBITDA of $489.32M and TTM operating income of $131.78M shows growth is flowing through. Net income of $286.33M TTM confirms the company is converting revenue into profit. Revenue is contracting — assess whether this is cyclical or structural.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
62.2%
Op. Margin
21.1%
12.8%
Net Margin
5.7%
46.9%
Op. margin of 21.1% is down 3.1% YoY — costs are rising relative to revenue. Net margin at 5.7%.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
20.6x
P/S Ratio
7.2x
P/B Ratio
2.1x
At 20.6x P/E, the stock trades in line with market averages — fairly valued. P/S of 7.2x and P/B of 2.1x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$6.35B
Cash
$32.54M
Long-Term Debt
$2.99B
Book Value
$2.86B
D/E Ratio
1.0
Debt/EBITDA
24.0
With $6.35B in assets and $2.99B in long-term debt, the D/E of 1.0and book value of $2.86B — reflects moderate leverage — debt is manageable but worth monitoring.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$49.77M
TTM Free Cash Flow
$145.15M
67.0%
FCF Margin
17.6%
FCF / Net Income
0.5
TTM FCF of $145.15M on $49.77M in operating cash flow. The FCF / Net Income ratio of 0.5x indicates partial cash conversion — earnings quality needs attention.

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