Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 11,824 Kite Realty Group Trust $KRG

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Kite Realty Group Trust (NYSE:KRG) during the second quarter, HoldingsChannel.com reports. The fund purchased 11,824 shares of the real estate investment trust’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in Kite Realty Group Trust by 516.1% in the 1st quarter. Allianz Asset Management GmbH now owns 623,772 shares of the real estate investment trust’s stock valued at $13,954,000 after buying an additional 522,529 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Kite Realty Group Trust during the first quarter worth approximately $1,174,000. Nuveen LLC bought a new stake in shares of Kite Realty Group Trust in the first quarter valued at approximately $70,071,000. Cetera Investment Advisers grew its stake in shares of Kite Realty Group Trust by 129.2% in the first quarter. Cetera Investment Advisers now owns 44,414 shares of the real estate investment trust’s stock worth $994,000 after acquiring an additional 25,040 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Kite Realty Group Trust by 46.2% during the second quarter. Fifth Third Bancorp now owns 24,330 shares of the real estate investment trust’s stock worth $551,000 after acquiring an additional 7,686 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Stock Up 2.9%

Shares of NYSE KRG opened at $22.84 on Friday. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70. The business has a fifty day moving average of $22.27 and a two-hundred day moving average of $22.35. The stock has a market cap of $4.94 billion, a PE ratio of 35.68, a PEG ratio of 6.16 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $205.06 million during the quarter, compared to analysts’ expectations of $208.82 million. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. As a group, equities research analysts expect that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 9th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently 181.25%.

Insider Activity at Kite Realty Group Trust

In related news, CEO John A. Kite sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the sale, the chief executive officer directly owned 54,121 shares in the company, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

KRG has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $23.00 to $25.00 in a research note on Tuesday, October 21st. LADENBURG THALM/SH SH initiated coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price objective for the company. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Wednesday. Finally, Piper Sandler reissued a “neutral” rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.88.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.