Kite Realty Group Trust $KRG Shares Bought by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its stake in Kite Realty Group Trust by 79.6%, acquiring an additional 33,368 shares for a total holding of 75,284 shares valued at approximately $1.68 million.
• Recent analyst activity includes Raymond James Financial reducing its price target for Kite Realty shares from $28 to $26, while UBS Group initiated coverage with a neutral rating and a price target of $24.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share, representing a 5.0% annual yield, with the ex-dividend date set for October 9th.

Fox Run Management L.L.C. boosted its holdings in Kite Realty Group Trust (NYSE:KRG - Free Report) by 79.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,284 shares of the real estate investment trust's stock after purchasing an additional 33,368 shares during the quarter. Fox Run Management L.L.C.'s holdings in Kite Realty Group Trust were worth $1,684,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Optiver Holding B.V. boosted its holdings in 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 purchasing an additional 467 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Kite Realty Group Trust by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the real estate investment trust's stock worth $1,376,000 after purchasing an additional 500 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in Kite Realty Group Trust by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,178 shares of the real estate investment trust's stock worth $806,000 after purchasing an additional 556 shares during the period. IHT Wealth Management LLC boosted its holdings in Kite Realty Group Trust by 3.3% in the fourth quarter. IHT Wealth Management LLC now owns 18,489 shares of the real estate investment trust's stock worth $467,000 after purchasing an additional 582 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Kite Realty Group Trust by 1.2% in the first quarter. State of Michigan Retirement System now owns 52,595 shares of the real estate investment trust's stock worth $1,177,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on KRG. Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Raymond James Financial decreased 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 report on Friday, May 23rd. Finally, UBS Group started coverage on shares of Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $27.11.

Kite Realty Group Trust Stock Performance

Shares of Kite Realty Group Trust stock traded up $0.7150 during trading on Tuesday, hitting $22.1250. 596,795 shares of the stock were exchanged, compared to its average volume of 1,883,726. The stock has a market cap of $4.86 billion, a PE ratio of 27.99, a P/E/G ratio of 6.52 and a beta of 1.16. The stock's fifty day moving average is $22.35 and its 200 day moving average is $22.19. Kite Realty Group Trust has a 12 month low of $18.51 and a 12 month high of $28.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.70 and a current ratio of 1.70.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.51. The firm 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. As a group, sell-side analysts anticipate that Kite Realty Group Trust will post 2.05 EPS for the current year.

Kite Realty Group Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio is currently 136.71%.

Kite Realty Group Trust Company 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.