Thrivent Financial for Lutherans Has $2.41 Million Stock Holdings in Kite Realty Group Trust $KRG

Thrivent Financial for Lutherans lowered its position in shares of Kite Realty Group Trust (NYSE:KRG) by 46.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,172 shares of the real estate investment trust’s stock after selling 93,050 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Kite Realty Group Trust were worth $2,405,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in shares of Kite Realty Group Trust in the second quarter worth $30,000. EverSource Wealth Advisors LLC increased its stake in Kite Realty Group Trust by 118.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 740 shares during the last quarter. UMB Bank n.a. lifted its position in Kite Realty Group Trust by 103.0% during the 2nd quarter. UMB Bank n.a. now owns 2,607 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,323 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Kite Realty Group Trust by 44.0% during the 2nd quarter. Blue Trust Inc. now owns 2,973 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 908 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Kite Realty Group Trust by 30.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,520 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 1,045 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup reaffirmed a “neutral” rating and issued a $24.00 target price (down previously from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kite Realty Group Trust in a research report on Monday. Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Kite Realty Group Trust in a report on Monday, December 15th. Wall Street Zen cut shares of Kite Realty Group Trust from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Wells Fargo & Company raised shares of Kite Realty Group Trust from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $25.00 in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Kite Realty Group Trust currently has a consensus rating of “Hold” and an average target price of $25.50.

Kite Realty Group Trust Stock Down 0.6%

KRG stock opened at $23.76 on Wednesday. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $25.40. The business’s 50 day simple moving average is $22.72 and its 200 day simple moving average is $22.48. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.14 billion, a PE ratio of 37.12, a PEG ratio of 6.03 and a beta of 0.90.

Kite Realty Group Trust (NYSE:KRG) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.52 EPS 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 4.27%. The firm 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. As a group, research analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors 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 dividend on an annualized basis and a yield of 4.9%. Kite Realty Group Trust’s dividend payout ratio (DPR) is currently 168.75%.

Kite Realty Group Trust Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.