Allianz Asset Management GmbH Raises Holdings in Kite Realty Group Trust $KRG

Allianz Asset Management GmbH raised its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 36.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,170 shares of the real estate investment trust's stock after acquiring an additional 59,922 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.11% of Kite Realty Group Trust worth $6,419,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of KRG. Cohen & Steers Inc. grew its stake in Kite Realty Group Trust by 26.3% in the 4th quarter. Cohen & Steers Inc. now owns 26,315,631 shares of the real estate investment trust's stock worth $630,805,000 after acquiring an additional 5,486,116 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Kite Realty Group Trust by 1.3% during the fourth quarter. Centersquare Investment Management LLC now owns 8,236,790 shares of the real estate investment trust's stock worth $197,436,000 after purchasing an additional 105,830 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Kite Realty Group Trust by 2,405.5% in the second quarter. California State Teachers Retirement System now owns 6,613,164 shares of the real estate investment trust's stock valued at $187,682,000 after purchasing an additional 6,349,218 shares during the period. Bank of America Corp DE grew its position in shares of Kite Realty Group Trust by 6.9% in the third quarter. Bank of America Corp DE now owns 6,368,129 shares of the real estate investment trust's stock valued at $142,009,000 after purchasing an additional 411,465 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Kite Realty Group Trust by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,812,897 shares of the real estate investment trust's stock valued at $91,395,000 after purchasing an additional 93,580 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KRG shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. Jefferies Financial Group upgraded Kite Realty Group Trust to a "hold" rating in a report on Friday, June 26th. LADENBURG THALM/SH SH increased their price objective on shares of Kite Realty Group Trust from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Piper Sandler reissued a "neutral" rating and issued a $33.00 target price (up from $27.00) on shares of Kite Realty Group Trust in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company set a $31.00 target price on shares of Kite Realty Group Trust and gave the company an "overweight" rating in a report on Tuesday, September 1st. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $30.00.

Kite Realty Group Trust Stock Performance

Shares of NYSE:KRG opened at $26.07 on Wednesday. The firm has a market capitalization of $5.22 billion, a PE ratio of 16.09, a P/E/G ratio of 4.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.61. The business has a 50-day moving average of $27.55 and a two-hundred day moving average of $26.81. Kite Realty Group Trust has a 12 month low of $21.33 and a 12 month high of $29.92.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.68. Kite Realty Group Trust had a return on equity of 11.26% and a net margin of 41.80%.The business had revenue of $196.26 million for the quarter, compared to analyst estimates of $197.32 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, research analysts forecast that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 9th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 9th. Kite Realty Group Trust's payout ratio is 71.60%.

Kite Realty Group Trust Company 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.

Want to see what other hedge funds are holding KRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kite Realty Group Trust (NYSE:KRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.