Gamco Investors INC. ET AL Has $280,000 Position in 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 position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 50.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the real estate investment trust's stock after selling 12,500 shares during the quarter. Gamco Investors INC. ET AL's holdings in Kite Realty Group Trust were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Kite Realty Group Trust in the 1st quarter valued at about $25,000. Smallwood Wealth Investment Management LLC acquired a new position in Kite Realty Group Trust during the first quarter worth approximately $25,000. CX Institutional bought a new stake in Kite Realty Group Trust in the first quarter valued at approximately $79,000. Dagco Inc. acquired a new stake in shares of Kite Realty Group Trust in the first quarter valued at approximately $92,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Kite Realty Group Trust in the fourth quarter valued at approximately $101,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on KRG shares. Wall Street Zen lowered Kite Realty Group Trust from a "buy" rating to a "hold" rating in a report on Friday, June 27th. UBS Group initiated 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. Wells Fargo & Company dropped their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Piper Sandler restated a "neutral" rating and set a $24.00 target price (down previously from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. Finally, Raymond James Financial reduced their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.38.

Kite Realty Group Trust Stock Performance

NYSE:KRG traded up $0.15 during mid-day trading on Thursday, reaching $22.91. 627,559 shares of the company's stock were exchanged, compared to its average volume of 1,867,358. Kite Realty Group Trust has a one year low of $18.51 and a one year 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. The business's fifty day simple moving average is $22.33 and its two-hundred day simple moving average is $22.15. The firm has a market capitalization of $5.04 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 6.32 and a beta of 1.13.

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 net margin of 20.14% and a return on equity of 5.21%. The firm 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. Analysts anticipate that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The business also recently disclosed 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 4.7%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 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.