Gamco Investors INC. ET AL Sells 12,500 Shares of Kite Realty Group Trust $KRG

Key Points

• Gamco Investors INC. ET AL has reduced its holdings in Kite Realty Group Trust by 50.0%, resulting in ownership of 12,500 shares valued at $280,000.
• Centersquare Investment Management LLC increased its holdings in Kite Realty Group Trust by 133.6%, becoming one of the largest institutional investors in the company.
• Analysts maintain a consensus rating of "Hold" for Kite Realty Group Trust, with a target price averaging $27.00, despite some brokerages lowering their price targets recently.

Gamco Investors INC. ET AL lowered its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,500 shares of the real estate investment trust's stock after selling 12,500 shares during the period. Gamco Investors INC. ET AL's holdings in Kite Realty Group Trust were worth $280,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its holdings in shares of 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 valued at $1,376,000 after buying an additional 500 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of 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 valued at $806,000 after buying an additional 556 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of 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 valued at $1,177,000 after buying an additional 600 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Kite Realty Group Trust by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 18,214 shares of the real estate investment trust's stock valued at $460,000 after buying an additional 613 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Kite Realty Group Trust in the first quarter valued at $25,000. Institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on KRG shares. UBS Group started coverage on shares of Kite Realty Group Trust in a report on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 target price for the company. Raymond James Financial reduced their price target 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 restated a "neutral" rating and issued a $24.00 price target (down previously from $25.00) on shares of Kite Realty Group Trust in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Kite Realty Group Trust presently has an average rating of "Hold" and a consensus price target of $26.38.

Kite Realty Group Trust Stock Up 1.1%

KRG stock traded up $0.25 during midday trading on Friday, reaching $23.28. The company had a trading volume of 282,257 shares, compared to its average volume of 1,864,677. Kite Realty Group Trust has a 1 year low of $18.51 and a 1 year high of $28.24. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $5.12 billion, a P/E ratio of 29.47, a PEG ratio of 6.30 and a beta of 1.13. The company has a 50 day moving average of $22.33 and a two-hundred day moving average of $22.15.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released 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 net margin of 20.14% and a return on equity of 5.21%. The company had revenue of $211.18 million during the quarter, compared to the consensus estimate of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Thursday, October 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is presently 136.71%.

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.