Sumitomo Mitsui Trust Group Inc. Has $44.79 Million Position in Kite Realty Group Trust $KRG

Sumitomo Mitsui Trust Group Inc. cut its position in Kite Realty Group Trust (NYSE:KRG) by 14.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,824,261 shares of the real estate investment trust’s stock after selling 311,160 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kite Realty Group Trust were worth $44,786,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cohen & Steers Inc. increased its stake in shares of Kite Realty Group Trust by 26.3% in the fourth quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust’s stock valued at $630,805,000 after buying an additional 5,486,116 shares during the period. Norges Bank acquired a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $61,863,000. Deutsche Bank AG grew its holdings in Kite Realty Group Trust by 434.7% during the 4th quarter. Deutsche Bank AG now owns 1,719,375 shares of the real estate investment trust’s stock worth $41,213,000 after acquiring an additional 1,397,837 shares during the last quarter. Sei Investments Co. grew its holdings in Kite Realty Group Trust by 171.0% during the 2nd quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust’s stock worth $38,756,000 after acquiring an additional 1,079,727 shares during the last quarter. Finally, Town Lane Management LP acquired a new position in Kite Realty Group Trust in the 4th quarter valued at approximately $25,466,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Up 0.0%

NYSE:KRG opened at $28.29 on Monday. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s fifty day moving average is $27.68 and its 200-day moving average is $25.81. The firm has a market cap of $5.74 billion, a P/E ratio of 21.27, a P/E/G ratio of 4.00 and a beta of 0.85.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Equities analysts expect that Kite Realty Group Trust will post 2.09 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.1%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 87.22%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KRG. Jefferies Financial Group raised shares of Kite Realty Group Trust to a “hold” rating in a research note on Friday, June 26th. Wells Fargo & Company restated an “overweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a report on Tuesday, May 26th. LADENBURG THALM/SH SH raised their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. UBS Group reaffirmed a “neutral” rating and set a $30.00 target price (up from $28.00) on shares of Kite Realty Group Trust in a report on Thursday. Finally, Wall Street Zen lowered Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.71.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.