Kite Realty Group Trust $KRG Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in Kite Realty Group Trust (NYSE:KRG) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 795,999 shares of the real estate investment trust’s stock after purchasing an additional 21,187 shares during the quarter. Rhumbline Advisers’ holdings in Kite Realty Group Trust were worth $18,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Centersquare Investment Management LLC grew its position in Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after buying an additional 3,408,442 shares during the period. Nuveen LLC acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter worth approximately $70,071,000. Long Pond Capital LP purchased a new position in Kite Realty Group Trust in the 1st quarter valued at approximately $60,616,000. JPMorgan Chase & Co. increased its stake in Kite Realty Group Trust by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,416,302 shares of the real estate investment trust’s stock valued at $281,229,000 after purchasing an additional 1,250,549 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Kite Realty Group Trust during the first quarter worth $24,727,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Kite Realty Group Trust Trading Up 0.3%

Shares of KRG stock opened at $23.14 on Friday. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 6.16 and a beta of 1.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $22.35 and a 200 day moving average price of $22.36. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $27.96.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $205.06 million for 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. Research analysts forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.0%. This is a boost from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s dividend payout ratio is currently 181.25%.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction 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 owned 54,121 shares in the company, valued at $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

KRG has been the topic of several research reports. LADENBURG THALM/SH SH initiated coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price on the stock. Citigroup reissued a “neutral” rating and issued a $24.00 price objective (down from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Weiss Ratings restated a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Tuesday. Piper Sandler restated a “neutral” rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, Raymond James Financial lowered shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.88.

About Kite Realty Group Trust

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.