917,158 Shares in Kite Realty Group Trust $KRG Acquired by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in Kite Realty Group Trust, purchasing 917,158 shares valued at approximately $20.5 million, representing about 0.42% of the company.
• Several institutional investors have also shown interest, including Smallwood Wealth Investment Management and Opal Wealth Advisors, each acquiring new positions worth $25,000.
• The latest analyst ratings indicate a consensus of "Hold" with an average price target of $26.50, despite varying assessments from firms like Citigroup and Piper Sandler, who have reduced their price targets for the stock.

Strs Ohio bought a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 917,158 shares of the real estate investment trust's stock, valued at approximately $20,517,000. Strs Ohio owned approximately 0.42% of Kite Realty Group Trust as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in Kite Realty Group Trust during the 1st quarter worth $25,000. CX Institutional acquired a new position in Kite Realty Group Trust during the 1st quarter valued at about $79,000. GF Fund Management CO. LTD. purchased a new stake in Kite Realty Group Trust in the fourth quarter valued at about $101,000. Finally, Dagco Inc. purchased a new stake in Kite Realty Group Trust in the first quarter valued at about $92,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup restated 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 note on Friday. Piper Sandler reiterated a "neutral" rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. LADENBURG THALM/SH SH began coverage on shares of Kite Realty Group Trust in a research note on Tuesday. They set a "buy" rating and a $30.00 price target on the stock. UBS Group assumed coverage on shares of 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. Finally, Raymond James Financial dropped their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.50.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG opened at $22.56 on Friday. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month high of $28.24. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The company has a market cap of $4.96 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 6.30 and a beta of 1.13. The company's 50 day moving average is $22.33 and its 200 day moving average is $22.18.

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

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is presently 136.71%.

Insider Buying and Selling

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 54,121 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. 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.

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