Clearbridge Investments LLC Cuts Stock Position in Kite Realty Group Trust $KRG

Key Points

• Clearbridge Investments reduced its stake in Kite Realty Group Trust by 22.8% in the fourth quarter, selling 127,700 shares and ending with 433,086 shares valued at about $10.4 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 90.81% of the company’s stock. Several firms notably increased their positions, including Norges Bank and Lasalle Investment Management.
• Analysts are mixed on KRG: the stock has a consensus Hold rating with an average price target of $27.43, while the shares recently traded around $28.80 and the company pays a quarterly dividend of $0.29, yielding about 4.0%.

Clearbridge Investments LLC lessened its stake in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,086 shares of the real estate investment trust's stock after selling 127,700 shares during the quarter. Clearbridge Investments LLC owned about 0.20% of Kite Realty Group Trust worth $10,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KRG. Norges Bank purchased a new stake in shares of Kite Realty Group Trust during the 4th quarter worth $61,863,000. Lasalle Investment Management Securities LLC boosted its holdings in Kite Realty Group Trust by 177.3% during the third quarter. Lasalle Investment Management Securities LLC now owns 2,815,190 shares of the real estate investment trust's stock worth $62,779,000 after buying an additional 1,799,866 shares in the last quarter. Sei Investments Co. increased its holdings in Kite Realty Group Trust by 171.0% in the second quarter. Sei Investments Co. now owns 1,711,094 shares of the real estate investment trust's stock valued at $38,756,000 after buying an additional 1,079,727 shares in the last quarter. M&T Bank Corp increased its holdings in Kite Realty Group Trust by 6,888.0% in the fourth quarter. M&T Bank Corp now owns 971,265 shares of the real estate investment trust's stock valued at $23,281,000 after buying an additional 957,366 shares in the last quarter. Finally, Freestone Grove Partners LP increased its holdings in Kite Realty Group Trust by 4,702.9% in the third quarter. Freestone Grove Partners LP now owns 953,901 shares of the real estate investment trust's stock valued at $21,272,000 after buying an additional 934,040 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KRG. LADENBURG THALM/SH SH increased their target price on shares of Kite Realty Group Trust from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group reiterated a "neutral" rating and set a $28.00 target price (up from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, May 18th. Robert W. Baird boosted their target price on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.43.

Kite Realty Group Trust Trading Up 0.4%

Kite Realty Group Trust stock opened at $28.80 on Thursday. The stock has a market cap of $5.85 billion, a PE ratio of 21.66, a P/E/G ratio of 4.44 and a beta of 0.86. The stock has a 50-day moving average price of $26.34 and a 200 day moving average price of $24.95. Kite Realty Group Trust has a 52 week low of $20.86 and a 52 week high of $29.29. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.05.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $200.70 million for the quarter, compared to analysts' expectations of $198.37 million. Kite Realty Group Trust had a net margin of 34.74% and a return on equity of 9.21%. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.0%. Kite Realty Group Trust's payout ratio is currently 87.22%.

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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