Bank of New York Mellon Corp Takes Position in Kite Realty Group Trust $KRG

Key Points

• Bank of New York Mellon acquired 1.57 million shares of Kite Realty Group Trust, worth approximately $44.5 million, giving it a 0.78% stake. Institutional investors and hedge funds collectively own 90.81% of KRG.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $30.14. Recent actions included upgrades to hold, downgrades to sector weight, and a price-target increase to $34 from Ladenburg Thalmann.
• KRG reported quarterly EPS of $0.79, well above the $0.11 consensus estimate, while revenue was $196.26 million. The company declared a quarterly dividend of $0.29 per share, representing a 4.5% annualized yield.

Bank of New York Mellon Corp purchased a new position in Kite Realty Group Trust (NYSE:KRG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,566,702 shares of the real estate investment trust's stock, valued at approximately $44,463,000. Bank of New York Mellon Corp owned about 0.78% of Kite Realty Group Trust as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KRG. Los Angeles Capital Management LLC acquired a new stake in shares of Kite Realty Group Trust in the 4th quarter valued at approximately $25,000. Arax Advisory Partners boosted its stake in Kite Realty Group Trust by 182.0% during the 4th quarter. Arax Advisory Partners now owns 1,125 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 726 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Kite Realty Group Trust by 118.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 740 shares during the period. Bessemer Group Inc. increased its stake in Kite Realty Group Trust by 44.4% in the first quarter. Bessemer Group Inc. now owns 1,519 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 467 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Kite Realty Group Trust in the third quarter worth $49,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Jefferies Financial Group upgraded Kite Realty Group Trust to a "hold" rating in a report on Friday, June 26th. KeyCorp downgraded Kite Realty Group Trust from an "overweight" rating to a "sector weight" rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kite Realty Group Trust in a research report on Wednesday, July 15th. LADENBURG THALM/SH SH boosted their price objective on Kite Realty Group Trust from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Citigroup reissued a "neutral" rating and set a $31.00 target price (up from $27.00) on shares of Kite Realty Group Trust in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $30.14.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock opened at $26.00 on Friday. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 4.06 and a beta of 0.86. The stock's 50-day moving average is $27.96 and its 200-day moving average is $26.76. Kite Realty Group Trust has a one year low of $21.33 and a one year high of $29.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.61.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $197.32 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Equities analysts predict that Kite Realty Group Trust will post 2.1 earnings per share for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is currently 71.60%.

Kite Realty Group Trust 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.

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