Bailard Inc. Decreases Stake in Kite Realty Group Trust $KRG

Bailard Inc. cut its position in Kite Realty Group Trust (NYSE:KRG) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,274 shares of the real estate investment trust’s stock after selling 4,374 shares during the period. Bailard Inc.’s holdings in Kite Realty Group Trust were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Centersquare Investment Management LLC increased its holdings in Kite Realty Group Trust by 133.6% in the first 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 buying an additional 3,408,442 shares during the last quarter. Nuveen LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth about $70,071,000. Long Pond Capital LP acquired a new position in shares of Kite Realty Group Trust during the 1st quarter worth about $60,616,000. Alyeska Investment Group L.P. purchased a new position in shares of Kite Realty Group Trust in the 1st quarter valued at about $24,727,000. Finally, Strs Ohio purchased a new position in shares of Kite Realty Group Trust in the 1st quarter valued at about $20,517,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Stock Down 0.1%

Shares of NYSE:KRG opened at $22.48 on Friday. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-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. The stock has a market cap of $4.87 billion, a P/E ratio of 35.12, a P/E/G ratio of 6.16 and a beta of 1.13. The firm has a fifty day moving average price of $22.31 and a 200 day moving average price of $22.34.

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.52 EPS 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 business had revenue of $205.06 million during 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. Sell-side analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be paid a $0.29 dividend. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 9th. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. Kite Realty Group Trust’s dividend payout ratio (DPR) is 181.25%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Raymond James Financial downgraded shares of Kite Realty Group Trust from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a “buy” rating and a $30.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Kite Realty Group Trust in a research note on Thursday. Finally, Piper Sandler reissued a “neutral” rating and issued a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kite Realty Group Trust has an average rating of “Hold” and an average price target of $25.88.

Insider Activity

In other news, CEO John A. Kite sold 50,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their ownership of the stock. The transaction 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 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.