Kite Realty Group Trust $KRG Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management trimmed its stake in Kite Realty Group Trust by 0.9% in the fourth quarter, but still held 5.88 million shares valued at about $141 million. Institutional investors and hedge funds continue to own a large majority of the stock.
• Analyst sentiment is mixed: one firm downgraded KRG to sell, while others reiterated or raised targets. Overall, the stock currently carries an average Hold rating with a consensus price target of $27.00.
• Kite Realty reported quarterly EPS of $0.06, slightly below estimates, while revenue topped expectations at $200.7 million. The company also declared a quarterly $0.29 dividend, yielding about 4.3%.

Geode Capital Management LLC cut its position in shares of Kite Realty Group Trust (NYSE:KRG - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,880,604 shares of the real estate investment trust's stock after selling 54,310 shares during the quarter. Geode Capital Management LLC owned 2.72% of Kite Realty Group Trust worth $140,976,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. NewEdge Wealth LLC increased its position in shares of Kite Realty Group Trust by 2.7% during the 3rd quarter. NewEdge Wealth LLC now owns 18,058 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 467 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Kite Realty Group Trust by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the real estate investment trust's stock valued at $406,000 after purchasing an additional 488 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Kite Realty Group Trust by 118.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,365 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 740 shares during the period. First Horizon Corp increased its position in shares of Kite Realty Group Trust by 56.5% during the 4th quarter. First Horizon Corp now owns 2,100 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 758 shares during the period. Finally, Signaturefd LLC increased its position in shares of Kite Realty Group Trust by 7.0% during the 4th quarter. Signaturefd LLC now owns 11,795 shares of the real estate investment trust's stock valued at $283,000 after purchasing an additional 772 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KRG shares. Wall Street Zen lowered Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Citigroup reissued a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of Kite Realty Group Trust in a research note on Tuesday, February 24th. Wells Fargo & Company reissued an "overweight" rating and set a $29.00 price objective (up from $28.00) on shares of Kite Realty Group Trust in a research note on Tuesday, May 26th. Weiss Ratings raised Kite Realty Group Trust from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. Finally, Robert W. Baird raised their price objective on Kite Realty Group Trust from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.00.

Kite Realty Group Trust Stock Performance

KRG opened at $27.28 on Friday. The firm has a market cap of $5.54 billion, a PE ratio of 20.51, a P/E/G ratio of 4.15 and a beta of 0.86. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $26.02 and a 200-day simple moving average of $24.78. Kite Realty Group Trust has a fifty-two week low of $20.86 and a fifty-two week high of $27.58.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $200.70 million for the quarter, compared to the consensus estimate of $198.37 million. Kite Realty Group Trust had a return on equity of 9.21% and a net margin of 34.74%.Kite Realty Group Trust has set its FY 2026 guidance at 2.060-2.120 EPS. As a group, equities analysts predict that Kite Realty Group Trust will post 2.1 EPS for the current fiscal year.

Kite Realty Group Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Thursday, July 9th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, July 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 87.22%.

About Kite Realty Group Trust

Kite Realty Group Trust NYSE: KRG is a real estate investment trust that specializes in the ownership, development and management of open-air retail real estate. Headquartered in Indianapolis, Indiana, the company focuses on acquiring, developing and operating community and neighborhood shopping centers, as well as mixed-use properties that accommodate national, regional and local retailers.

Established in 1994, Kite Realty has grown its portfolio through strategic development projects, targeted acquisitions and selective dispositions.

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