Presima Securities ULC Decreases Position in Kite Realty Group Trust $KRG

Key Points

• Presima Securities ULC reduced its position in Kite Realty Group Trust by 19.4%, selling 16,001 shares during the first quarter which left them with a total of 66,329 shares valued at approximately $1.48 million.
• CEO John A. Kite sold 50,000 shares at an average price of $22.70, resulting in a 48.02% decrease in his ownership, while he currently holds 54,121 shares valued at around $1.23 million.
• Kite Realty Group Trust declared a quarterly dividend of $0.27 per share, set to be paid on October 16th, providing an annualized yield of 4.6%, despite a high payout ratio of 136.71%.

Presima Securities ULC reduced its stake in Kite Realty Group Trust (NYSE:KRG - Free Report) by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,329 shares of the real estate investment trust's stock after selling 16,001 shares during the period. Presima Securities ULC's holdings in Kite Realty Group Trust were worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KRG. Centersquare Investment Management LLC lifted 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 last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Kite Realty Group Trust by 8.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,838,842 shares of the real estate investment trust's stock worth $130,615,000 after acquiring an additional 459,752 shares in the last quarter. Millennium Management LLC raised its stake in 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 acquiring an additional 567,284 shares in the last quarter. Bank of America Corp DE lifted its position in Kite Realty Group Trust by 9.0% in the fourth quarter. Bank of America Corp DE now owns 3,785,395 shares of the real estate investment trust's stock valued at $95,543,000 after acquiring an additional 311,258 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Kite Realty Group Trust by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 3,240,179 shares of the real estate investment trust's stock valued at $81,782,000 after acquiring an additional 15,061 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Kite Realty Group Trust Stock Performance

KRG traded down $0.13 during trading on Wednesday, reaching $22.62. The company's stock had a trading volume of 1,915,832 shares, compared to its average volume of 1,535,624. 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 company's fifty day moving average price is $22.34 and its 200-day moving average price is $22.17. Kite Realty Group Trust has a 52-week low of $18.51 and a 52-week high of $28.24. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 6.30 and a beta of 1.13.

Kite Realty Group Trust (NYSE:KRG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.51 EPS for the quarter, meeting 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 business had revenue of $211.18 million during the quarter, compared to analysts' expectations of $211.74 million. Kite Realty Group Trust has set its FY 2025 guidance at 2.060-2.100 EPS. On average, equities 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 business also recently announced 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 dividend yield of 4.8%. The ex-dividend date is Thursday, October 9th. Kite Realty Group Trust's payout ratio is presently 136.71%.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.70, for a total value of $1,135,000.00. Following the completion of the transaction, the chief executive officer owned 54,121 shares in the company, valued at $1,228,546.70. This trade represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company cut their target price on 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. Raymond James Financial dropped their price target on Kite Realty Group Trust from $28.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 23rd. UBS Group began coverage on Kite Realty Group Trust in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $24.00 price objective for the company. Wall Street Zen downgraded Kite Realty Group Trust from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 target price (down from $25.00) on shares of Kite Realty Group Trust in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $26.78.

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.