Great Lakes Advisors LLC Purchases New Shares in Kite Realty Group Trust $KRG

Great Lakes Advisors LLC purchased a new position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 170,238 shares of the real estate investment trust's stock, valued at approximately $4,831,000. Great Lakes Advisors LLC owned 0.08% of Kite Realty Group Trust at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Kite Realty Group Trust during the second quarter valued at about $44,463,000. Stoneridge Investment Partners LLC acquired a new position in shares of Kite Realty Group Trust in the second quarter worth about $952,000. Edgestream Partners L.P. purchased a new position in Kite Realty Group Trust in the first quarter valued at about $307,000. Amundi boosted its holdings in Kite Realty Group Trust by 3.2% in the first quarter. Amundi now owns 123,135 shares of the real estate investment trust's stock valued at $3,023,000 after purchasing an additional 3,858 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Kite Realty Group Trust by 26.0% in the first quarter. California State Teachers Retirement System now owns 263,946 shares of the real estate investment trust's stock valued at $6,480,000 after purchasing an additional 54,425 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Ratings Changes

KRG has been the subject of several research analyst reports. LADENBURG THALM/SH SH increased their target price on Kite Realty Group Trust from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Piper Sandler restated a "neutral" rating and issued a $33.00 price target (up from $27.00) on shares of Kite Realty Group Trust in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup reiterated a "neutral" rating and set a $31.00 price objective (up from $27.00) on shares of Kite Realty Group Trust in a research note on Monday, August 3rd. Finally, Wells Fargo & Company set a $32.00 price objective on shares of Kite Realty Group Trust and gave the stock an "overweight" rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $30.14.

Kite Realty Group Trust Price Performance

Shares of NYSE KRG opened at $26.45 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 3.90 and a beta of 0.86. Kite Realty Group Trust has a twelve month low of $21.33 and a twelve month high of $29.92. The business has a 50 day simple moving average of $28.25 and a 200-day simple moving average of $26.67.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $196.26 million for the quarter, compared to analysts' expectations of $197.32 million. Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, equities research analysts expect that Kite Realty Group Trust will post 2.1 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

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 issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. Kite Realty Group Trust's payout ratio is 71.60%.

About Kite Realty Group Trust

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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