Parallel Advisors LLC Boosts Stock Holdings in Kite Realty Group Trust $KRG

Parallel Advisors LLC raised its holdings in shares of Kite Realty Group Trust (NYSE:KRG) by 30.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,977 shares of the real estate investment trust’s stock after purchasing an additional 1,152 shares during the period. Parallel Advisors LLC’s holdings in Kite Realty Group Trust were worth $113,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on KRG shares. Piper Sandler reissued a “neutral” rating and set a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Citigroup reissued 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 report on Friday, September 12th. UBS Group initiated coverage on shares of Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target on the stock. Wall Street Zen lowered shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.50.

Kite Realty Group Trust Trading Up 0.5%

NYSE:KRG opened at $22.20 on Wednesday. The business has a fifty day moving average of $22.29 and a 200-day moving average of $22.15. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 6.12 and a beta of 1.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The business had revenue of $211.18 million during the quarter, compared to analysts’ expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. Equities analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

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

About Kite Realty Group Trust

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.