Invesco Ltd. Cuts Stock Holdings in Kite Realty Group Trust $KRG

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. decreased its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 65.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,015,497 shares of the real estate investment trust's stock after selling 1,957,484 shares during the quarter. Invesco Ltd. owned about 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 the company. Centersquare Investment Management LLC grew its position in shares of 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 worth $133,327,000 after buying an additional 3,408,442 shares during the period. Millennium Management LLC grew its position in shares of 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 worth $98,074,000 after buying an additional 567,284 shares during the period. Bank of America Corp DE grew its position in shares of Kite Realty Group Trust by 9.0% during the 4th quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock worth $95,543,000 after buying an additional 311,258 shares during the period. Northern Trust Corp grew its position in shares of 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 worth $91,466,000 after buying an additional 539,322 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Kite Realty Group Trust by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 3,240,179 shares of the real estate investment trust's stock worth $81,782,000 after buying an additional 15,061 shares during the period. Institutional investors own 90.81% of the company's stock.

Kite Realty Group Trust Stock Down 0.3%

KRG stock traded down $0.08 during midday trading on Tuesday, reaching $22.30. 1,772,432 shares of the company's stock traded hands, compared to its average volume of 1,757,253. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 6.19 and a beta of 1.16. The firm's fifty day moving average price is $22.33 and its 200-day moving average price is $22.16. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.91. Kite Realty Group Trust has a 52 week low of $18.51 and a 52 week high of $28.24.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting analysts' consensus estimates of $0.51. The business 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 forecast that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's payout ratio is 136.71%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of Kite Realty Group Trust from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Raymond James Financial reduced 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 research report on Friday, May 23rd. Piper Sandler reaffirmed a "neutral" rating and set a $24.00 price objective (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Finally, UBS Group began 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 objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.11.

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.