Anson Funds Management LP Makes New Investment in Kite Realty Group Trust $KRG

Key Points

• Anson Funds Management LP has invested approximately $2.46 million in Kite Realty Group Trust by acquiring 110,000 shares, representing a 0.05% ownership stake in the company.
• Wall Street analysts have recently adjusted their price targets for KRG, with Raymond James lowering it from $28.00 to $26.00 while Wells Fargo reduced theirs from $24.00 to $23.00, indicating varying outlooks on the stock's performance.
• Kite Realty Group Trust has declared a quarterly dividend of $0.27 per share, which will be paid on October 16th, with a current dividend yield of 4.8%.

Anson Funds Management LP bought a new stake in Kite Realty Group Trust (NYSE:KRG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 110,000 shares of the real estate investment trust's stock, valued at approximately $2,461,000. Anson Funds Management LP owned 0.05% of Kite Realty Group Trust at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Centersquare Investment Management LLC lifted its stake in shares of Kite Realty Group Trust by 133.6% in the 1st quarter. Centersquare Investment Management LLC now owns 5,960,072 shares of the real estate investment trust's stock valued at $133,327,000 after purchasing an additional 3,408,442 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Kite Realty Group Trust by 8.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust's stock valued at $130,615,000 after purchasing an additional 459,752 shares during the period. Millennium Management LLC lifted its stake in shares of Kite Realty Group Trust by 17.1% in the 4th quarter. Millennium Management LLC now owns 3,885,650 shares of the real estate investment trust's stock valued at $98,074,000 after purchasing an additional 567,284 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Kite Realty Group Trust by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 3,240,179 shares of the real estate investment trust's stock valued at $81,782,000 after purchasing an additional 15,061 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Kite Realty Group Trust in the 1st quarter valued at $70,071,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Kite Realty Group Trust Trading Down 1.6%

Shares of KRG traded down $0.36 during mid-day trading on Tuesday, reaching $22.11. The stock had a trading volume of 726,060 shares, compared to its average volume of 1,863,723. 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 fifty day moving average is $22.32 and its 200 day moving average is $22.17. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 6.24 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $211.18 million during the quarter, compared to analyst estimates 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 predict that Kite Realty Group Trust will post 2.05 EPS for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 136.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KRG shares. Raymond James Financial reduced their price objective on shares of Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Friday, May 23rd. LADENBURG THALM/SH SH started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, September 9th. They set a "buy" rating and a $30.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Wall Street Zen cut shares of Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Finally, Piper Sandler restated a "neutral" rating and set a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.50.

Insiders Place Their Bets

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 shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the completion of the transaction, the chief executive officer owned 54,121 shares of the company's stock, valued at $1,228,546.70. This trade represents a 48.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.

Kite Realty Group Trust 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.