American Century Companies Inc. Reduces Stock Holdings in Kite Realty Group Trust $KRG

Key Points

• American Century Companies Inc. reduced its stake in Kite Realty Group Trust by 49.9%, selling 601,671 shares in the first quarter, resulting in ownership of approximately 0.27% of the company.
• Wall Street analysts have varied opinions on Kite Realty Group Trust stock, with a consensus rating of "Hold" and a target price of $27.11, following adjustments from several firms.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share, with the dividend yield standing at 4.8% and a payout ratio of 136.71%.

American Century Companies Inc. reduced its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 49.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 603,726 shares of the real estate investment trust's stock after selling 601,671 shares during the period. American Century Companies Inc. owned approximately 0.27% of Kite Realty Group Trust worth $13,505,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Kite Realty Group Trust in the first quarter worth $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Kite Realty Group Trust in the first quarter worth $25,000. Optiver Holding B.V. grew its stake in shares of Kite Realty Group Trust by 19.9% in the fourth quarter. Optiver Holding B.V. now owns 2,813 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 467 shares during the last quarter. CX Institutional purchased a new stake in shares of Kite Realty Group Trust in the first quarter worth $79,000. Finally, Dagco Inc. purchased a new stake in shares of Kite Realty Group Trust in the first quarter worth $92,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler reissued 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. UBS Group began coverage on Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price on the stock. Raymond James Financial lowered 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 report on Friday, May 23rd. Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company decreased their price objective on Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday. One investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $27.00.

Kite Realty Group Trust Price Performance

Shares of NYSE:KRG traded down $0.09 during trading on Thursday, hitting $22.61. 1,577,092 shares of the company's stock were exchanged, compared to its average volume of 1,713,379. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The business's 50-day simple moving average is $22.33 and its 200 day simple moving average is $22.16. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 6.29 and a beta of 1.16.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share 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 return on equity of 5.21% and a net margin of 20.14%. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, equities analysts predict that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The company 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 136.71%.

About Kite Realty Group Trust

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.