Greenland Capital Management LP Purchases Shares of 137,392 Kite Realty Group Trust $KRG

Greenland Capital Management LP acquired a new position in shares of Kite Realty Group Trust (NYSE:KRG) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 137,392 shares of the real estate investment trust’s stock, valued at approximately $3,112,000.

Several other hedge funds have also modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new position in shares of Kite Realty Group Trust in the 2nd quarter valued at $30,000. UMB Bank n.a. increased its stake in Kite Realty Group Trust by 103.0% during the second quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,323 shares during the last quarter. Blue Trust Inc. lifted its position in Kite Realty Group Trust by 44.0% during the second quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 908 shares in the last quarter. Dagco Inc. purchased a new stake in Kite Realty Group Trust during the 1st quarter worth $92,000. Finally, GAMMA Investing LLC raised its position in Kite Realty Group Trust by 30.1% in the second quarter. GAMMA Investing LLC now owns 4,520 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 1,045 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on KRG. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a report on Thursday, November 13th. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, November 11th. Piper Sandler reissued a “neutral” rating and set a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target for the company. Finally, Wells Fargo & Company upgraded shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $25.00 in a report on Tuesday, October 21st. Two investment 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 has a consensus rating of “Hold” and an average price target of $25.88.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the stock in a transaction 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. This represents a 48.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Kite Realty Group Trust Price Performance

Shares of KRG opened at $22.24 on Wednesday. The stock has a 50 day moving average of $22.28 and a 200-day moving average of $22.35. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 34.75, 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.

Kite Realty Group Trust (NYSE:KRG) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. Kite Realty Group Trust had a net margin of 16.34% and a return on equity of 4.23%. The firm had revenue of $205.06 million during the quarter, compared to analyst estimates of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. As a group, analysts forecast 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. Stockholders of record on Friday, January 9th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, January 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.2%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. 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.