Kite Realty Group Trust $KRG Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC has significantly increased its holdings in Kite Realty Group Trust (NYSE:KRG) by 88.5% in the first quarter, owning approximately 0.25% of the company worth $12.1 million by the end of that period.
• Kite Realty Group Trust recently declared a quarterly dividend of $0.27 per share, with a yield of 5.0%, set to be paid on October 16th.
• Despite a meeting EPS of $0.51 for the last quarter, the stock has received mixed analyst ratings, currently holding a consensus rating of "Hold" with an average target price of $27.11.

Algert Global LLC boosted its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 88.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 541,567 shares of the real estate investment trust's stock after purchasing an additional 254,258 shares during the quarter. Algert Global LLC owned approximately 0.25% of Kite Realty Group Trust worth $12,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KRG. Wells Fargo & Company MN boosted its position in Kite Realty Group Trust by 18.2% during the fourth quarter. Wells Fargo & Company MN now owns 166,842 shares of the real estate investment trust's stock worth $4,211,000 after purchasing an additional 25,671 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Kite Realty Group Trust by 11.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 244,272 shares of the real estate investment trust's stock valued at $6,165,000 after acquiring an additional 25,805 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $19,632,000. Barclays PLC lifted its position in shares of Kite Realty Group Trust by 25.0% in the fourth quarter. Barclays PLC now owns 1,183,004 shares of the real estate investment trust's stock valued at $29,859,000 after acquiring an additional 236,503 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Kite Realty Group Trust by 4.1% in the fourth quarter. Mariner LLC now owns 81,427 shares of the real estate investment trust's stock valued at $2,055,000 after acquiring an additional 3,237 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG traded up $0.8520 during midday trading on Friday, hitting $22.7220. The company had a trading volume of 589,209 shares, compared to its average volume of 1,880,065. Kite Realty Group Trust has a twelve month low of $18.51 and a twelve month 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 $5.00 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 6.09 and a beta of 1.16. The business's 50-day simple moving average is $22.32 and its 200-day simple moving average is $22.18.

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

Kite Realty Group Trust Dividend Announcement

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

Wall Street Analyst Weigh In

KRG has been the topic of several research reports. Raymond James Financial decreased their target price on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd. UBS Group initiated coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price on the stock. Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Piper Sandler restated a "neutral" rating and issued a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.11.

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.