Cbre Investment Management Listed Real Assets LLC Buys New Stake in Kite Realty Group Trust $KRG

Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Kite Realty Group Trust (NYSE:KRG) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 634,744 shares of the real estate investment trust’s stock, valued at approximately $14,377,000. Cbre Investment Management Listed Real Assets LLC owned about 0.29% of Kite Realty Group Trust as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Connable Office Inc. acquired a new stake in shares of Kite Realty Group Trust during the second quarter valued at $221,000. Bank of New York Mellon Corp boosted its stake in shares of Kite Realty Group Trust by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,788,714 shares of the real estate investment trust’s stock worth $40,514,000 after purchasing an additional 105,937 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Kite Realty Group Trust by 63.3% during the 2nd quarter. Bank of Montreal Can now owns 104,450 shares of the real estate investment trust’s stock worth $2,366,000 after purchasing an additional 40,485 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Kite Realty Group Trust during the second quarter worth about $288,000. Finally, Strs Ohio raised its position in shares of Kite Realty Group Trust by 5.9% in the second quarter. Strs Ohio now owns 971,558 shares of the real estate investment trust’s stock valued at $22,006,000 after buying an additional 54,400 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the transaction, the chief executive officer directly owned 54,121 shares of the company’s stock, valued at $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

KRG has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Kite Realty Group Trust in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH assumed coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Finally, Citigroup reissued a “neutral” rating and issued a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Hold” and an average price target of $26.70.

Kite Realty Group Trust Trading Down 0.2%

KRG stock opened at $22.00 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 6.16 and a beta of 1.13. The business has a fifty day simple moving average of $22.35 and a 200-day simple moving average of $22.31. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24.

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

Kite Realty Group Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 9th will be issued a $0.29 dividend. The ex-dividend date is Friday, January 9th. This is a positive change from Kite Realty Group Trust’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 5.3%. Kite Realty Group Trust’s payout ratio is 181.25%.

Kite Realty Group Trust Company 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.