Kite Realty Group Trust $KRG Position Cut by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. OH significantly reduced its stake in Kite Realty Group Trust by 50.8% during the second quarter, resulting in ownership of 313,640 shares worth approximately $7.1 million.
• Other institutional investors have increased their holdings, with Centersquare Investment Management LLC boosting its stake by 133.6%, now owning 5.96 million shares valued at $133.3 million.
• Kite Realty Group Trust announced a quarterly dividend of $0.27 per share, representing a 4.9% yield, to be paid on October 16th to shareholders on record as of October 9th.

Fort Washington Investment Advisors Inc. OH decreased its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 50.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 313,640 shares of the real estate investment trust's stock after selling 323,614 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.14% of Kite Realty Group Trust worth $7,104,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Centersquare Investment Management LLC boosted 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 purchasing an additional 3,408,442 shares during the period. Nuveen LLC acquired a new position in shares of Kite Realty Group Trust during the first quarter worth approximately $70,071,000. Long Pond Capital LP bought a new position in Kite Realty Group Trust in the 1st quarter worth approximately $60,616,000. Sumitomo Mitsui Trust Group Inc. increased its position in Kite Realty Group Trust by 332.4% in 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 during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in Kite Realty Group Trust in the 1st quarter valued at approximately $24,727,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Transactions at Kite Realty Group Trust

In other Kite Realty Group Trust news, CEO John A. Kite sold 50,000 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total transaction of $1,135,000.00. Following the sale, the chief executive officer directly owned 54,121 shares of the company's stock, valued at $1,228,546.70. The trade was a 48.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler reiterated a "neutral" rating and set 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. LADENBURG THALM/SH SH began coverage on shares of Kite Realty Group Trust in a report on Tuesday, September 9th. They issued a "buy" rating and a $30.00 price objective for the company. Wall Street Zen raised shares of Kite Realty Group Trust from a "sell" rating to a "hold" rating in a research note on Friday. Citigroup restated a "neutral" rating and set a $24.00 price target (down from $28.00) on shares of Kite Realty Group Trust in a research report on Friday, September 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Kite Realty Group Trust from $24.00 to $23.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.50.

Kite Realty Group Trust Trading Up 0.7%

NYSE:KRG opened at $22.17 on Monday. The stock has a fifty day simple moving average of $22.27 and a 200 day simple moving average of $22.16. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 6.14 and a beta of 1.13. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. 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 (NYSE:KRG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Kite Realty Group Trust had a return on equity of 5.21% and a net margin of 20.14%.The firm had revenue of $211.18 million for 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. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders 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 4.9%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's payout ratio is presently 136.71%.

Kite Realty Group Trust 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.

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