Kite Realty Group Trust $KRG Position Boosted by Truist Financial Corp

Truist Financial Corp grew its position in shares of Kite Realty Group Trust (NYSE:KRG) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,024 shares of the real estate investment trust’s stock after buying an additional 503 shares during the quarter. Truist Financial Corp’s holdings in Kite Realty Group Trust were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in KRG. State of Alaska Department of Revenue lifted its holdings in Kite Realty Group Trust by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 131,023 shares of the real estate investment trust’s stock worth $2,930,000 after purchasing an additional 2,009 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Kite Realty Group Trust by 2.2% in the first quarter. Asset Management One Co. Ltd. now owns 325,573 shares of the real estate investment trust’s stock worth $7,283,000 after purchasing an additional 6,948 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Kite Realty Group Trust by 27.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 300,112 shares of the real estate investment trust’s stock worth $6,714,000 after purchasing an additional 65,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Kite Realty Group Trust by 332.4% during 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 period. Finally, KBC Group NV lifted its stake in shares of Kite Realty Group Trust by 23.2% during the first quarter. KBC Group NV now owns 10,112 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 1,902 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on KRG. LADENBURG THALM/SH SH began coverage on Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Kite Realty Group Trust in a report on Wednesday, October 8th. UBS Group assumed coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a “neutral” rating and a $24.00 price target for the company. Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Finally, Wall Street Zen upgraded Kite Realty Group Trust from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.50.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust 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 transaction, the chief executive officer owned 54,121 shares in the company, valued at approximately $1,228,546.70. This trade represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Kite Realty Group Trust Stock Up 1.4%

KRG stock opened at $22.32 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $22.20 and a two-hundred day moving average price of $22.13. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 6.18 and a beta of 1.15. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24.

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

Kite Realty Group Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $1.08 annualized dividend and a yield of 4.8%. Kite Realty Group Trust’s payout ratio is currently 136.71%.

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.