Oppenheimer Asset Management Inc. Purchases Shares of 22,692 Kite Realty Group Trust $KRG

Oppenheimer Asset Management Inc. bought a new position in shares of Kite Realty Group Trust (NYSE:KRG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,692 shares of the real estate investment trust’s stock, valued at approximately $514,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KRG. Centersquare Investment Management LLC raised its position in shares of Kite Realty Group Trust by 133.6% during the first quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust’s stock worth $133,327,000 after purchasing an additional 3,408,442 shares during the period. Nuveen LLC acquired a new stake in Kite Realty Group Trust during the 1st quarter worth about $70,071,000. Long Pond Capital LP acquired a new stake in Kite Realty Group Trust during the 1st quarter worth about $60,616,000. Alyeska Investment Group L.P. acquired a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $24,727,000. Finally, Strs Ohio acquired a new stake in shares of Kite Realty Group Trust during the first quarter valued at approximately $20,517,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the company’s stock in a transaction dated 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 directly owned 54,121 shares of the company’s stock, valued at $1,228,546.70. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KRG shares. Weiss Ratings restated a “hold (c+)” rating on shares of Kite Realty Group Trust in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday. 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 target price on the stock. Citigroup reissued a “neutral” rating and set a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.70.

Kite Realty Group Trust Stock Up 1.3%

Kite Realty Group Trust stock opened at $22.18 on Friday. The firm has a market cap of $4.88 billion, a PE ratio of 34.65, a P/E/G ratio of 6.16 and a beta of 1.15. 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’s 50 day moving average price is $22.39 and its two-hundred day moving average price is $22.29. 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, October 29th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping 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 business had revenue of $205.06 million for the quarter, compared to the consensus estimate of $208.82 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.090-2.110 EPS. On average, research analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. Kite Realty Group Trust’s 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.