Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Kite Realty Group Trust $KRG

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Kite Realty Group Trust (NYSE:KRG) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,348 shares of the real estate investment trust’s stock after purchasing an additional 6,241 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kite Realty Group Trust were worth $1,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in Kite Realty Group Trust by 52.5% in the first quarter. M&T Bank Corp now owns 55,597 shares of the real estate investment trust’s stock valued at $1,244,000 after acquiring an additional 19,132 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Kite Realty Group Trust by 332.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust’s stock valued at $33,776,000 after acquiring an additional 1,160,694 shares during the last quarter. GAMMA Investing LLC boosted its stake in Kite Realty Group Trust by 1,523.9% in the first quarter. GAMMA Investing LLC now owns 77,736 shares of the real estate investment trust’s stock valued at $1,739,000 after acquiring an additional 72,949 shares during the last quarter. SG Americas Securities LLC purchased a new position in Kite Realty Group Trust in the first quarter valued at about $795,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Kite Realty Group Trust by 27.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 59,489 shares of the real estate investment trust’s stock valued at $1,331,000 after acquiring an additional 12,696 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the sale, the chief executive officer owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This trade represents a 48.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $22.10 on Tuesday. The company’s fifty day moving average price is $22.29 and its 200-day moving average price is $22.15. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 6.14 and a beta of 1.13. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Kite Realty Group Trust had a net margin of 20.14% and a return on equity of 5.21%. The firm had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, equities research analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust’s dividend payout ratio (DPR) is 136.71%.

Analyst Ratings Changes

Several research firms have recently issued reports on KRG. Citigroup reissued a “neutral” rating and issued a $24.00 price target (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Wells Fargo & Company lowered their price target on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. UBS Group began coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target on the stock. Finally, LADENBURG THALM/SH SH began coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.50.

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.