Kite Realty Group Trust $KRG Holdings Decreased by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in Kite Realty Group Trust by 65.8%, now holding approximately 1,015,497 shares valued at $22.72 million.
• The company announced a quarterly dividend of $0.27, scheduled for payment on October 16th, representing a 4.9% yield.
• Kite Realty Group Trust reported earning $0.51 per share, meeting analysts' expectations, and its fiscal year 2025 guidance is set at 2.060-2.100 EPS.

Invesco Ltd. lowered its holdings in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 65.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,015,497 shares of the real estate investment trust's stock after selling 1,957,484 shares during the period. Invesco Ltd. owned approximately 0.46% of Kite Realty Group Trust worth $22,717,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KRG. Centersquare Investment Management LLC raised its stake in Kite Realty Group Trust by 133.6% during 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 acquiring an additional 3,408,442 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Kite Realty Group Trust by 332.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,509,886 shares of the real estate investment trust's stock valued at $33,776,000 after acquiring an additional 1,160,694 shares in the last quarter. Deutsche Bank AG raised its stake in Kite Realty Group Trust by 232.4% during the 4th quarter. Deutsche Bank AG now owns 1,048,441 shares of the real estate investment trust's stock valued at $26,463,000 after acquiring an additional 733,015 shares in the last quarter. Millennium Management LLC raised its stake in Kite Realty Group Trust by 17.1% during 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 acquiring an additional 567,284 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Kite Realty Group Trust by 17.5% during the 4th quarter. Northern Trust Corp now owns 3,623,860 shares of the real estate investment trust's stock valued at $91,466,000 after acquiring an additional 539,322 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Price Performance

Shares of KRG traded up $0.8940 during trading hours on Friday, hitting $22.7640. 1,708,698 shares of the company were exchanged, compared to its average volume of 1,774,952. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $5.00 billion, a PE ratio of 28.82, a PEG ratio of 6.30 and a beta of 1.16. The firm has a fifty day simple moving average of $22.33 and a 200-day simple moving average of $22.17. Kite Realty Group Trust has a one year low of $18.51 and a one year high of $28.24.

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, hitting analysts' consensus estimates of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The company had revenue of $211.18 million for the quarter, compared to analyst estimates of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. As a group, sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current year.

Kite Realty Group Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. 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

Several analysts have weighed in on the company. Wall Street Zen downgraded Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group assumed coverage on Kite Realty Group Trust in a research report on Tuesday, July 1st. They set a "neutral" rating and a $24.00 price target on the stock. Raymond James Financial lowered their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Friday, May 23rd. Finally, Piper Sandler reiterated a "neutral" rating and set a $24.00 price target (down from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $27.11.

About Kite Realty Group Trust

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.