KBC Group NV Sells 3,083 Shares of Kite Realty Group Trust $KRG

KBC Group NV lowered its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 30.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,029 shares of the real estate investment trust’s stock after selling 3,083 shares during the period. KBC Group NV’s holdings in Kite Realty Group Trust were worth $159,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Centersquare Investment Management LLC increased its stake in shares of Kite Realty Group Trust by 133.6% in the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock valued at $133,327,000 after acquiring an additional 3,408,442 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Kite Realty Group Trust by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust’s stock worth $130,615,000 after purchasing an additional 459,752 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $70,071,000. Long Pond Capital LP acquired a new position in Kite Realty Group Trust during the 1st quarter worth approximately $60,616,000. Finally, Bank of New York Mellon Corp boosted its holdings in Kite Realty Group Trust by 6.3% in the second 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 acquiring an additional 105,937 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KRG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a research note on Tuesday, September 9th. They set a “buy” rating and a $30.00 price target for the company. 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. Citigroup reiterated a “neutral” rating and set a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research note on Friday, September 12th. Wells Fargo & Company upgraded Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $25.00 in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Kite Realty Group Trust has an average rating of “Hold” and an average target price 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 business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total value 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. 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 available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Kite Realty Group Trust Price Performance

KRG opened at $22.05 on Thursday. Kite Realty Group Trust has a fifty-two week low of $18.51 and a fifty-two week high of $28.24. The firm has a 50-day moving average of $22.27 and a 200 day moving average of $22.35. 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 firm has a market cap of $4.77 billion, a P/E ratio of 34.45, a PEG ratio of 6.16 and a beta of 1.13.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, research analysts expect that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

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

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.