Great Lakes Advisors LLC Decreases Stock Holdings in Kite Realty Group Trust $KRG

Key Points

• Great Lakes Advisors LLC has reduced its stake in Kite Realty Group Trust by 16.4%, now holding approximately 212,726 shares valued at $4.76 million.
• Insider trading revealed that CEO John A. Kite sold 50,000 shares, decreasing his ownership by 48% to 54,121 shares worth over $1.22 million.
• Several analysts have recently lowered their price targets for Kite Realty Group Trust, with a consensus rating of "Hold" and an average target price of $26.78.

Great Lakes Advisors LLC reduced its position in Kite Realty Group Trust (NYSE:KRG - Free Report) by 16.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 212,726 shares of the real estate investment trust's stock after selling 41,749 shares during the period. Great Lakes Advisors LLC owned 0.10% of Kite Realty Group Trust worth $4,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Centersquare Investment Management LLC raised its stake 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 in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Kite Realty Group Trust by 8.5% during the first 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 purchasing an additional 459,752 shares in the last quarter. Millennium Management LLC increased its position in shares of Kite Realty Group Trust by 17.1% during the fourth 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 during the last quarter. Nuveen Asset Management LLC increased its holdings 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 buying an additional 15,061 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Kite Realty Group Trust in the first quarter valued at approximately $70,071,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Kite Realty Group Trust Trading Down 0.8%

KRG stock traded down $0.17 during midday trading on Friday, hitting $22.56. The stock had a trading volume of 1,934,112 shares, compared to its average volume of 1,497,176. The business has a fifty day moving average price of $22.33 and a two-hundred day moving average price of $22.18. Kite Realty Group Trust has a 1-year low of $18.51 and a 1-year high of $28.24. The firm has a market cap of $4.96 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 6.30 and a beta of 1.13. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.91.

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 for the quarter, meeting 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 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, sell-side analysts predict that Kite Realty Group Trust will post 2.05 earnings per share for the current fiscal year.

Kite Realty Group Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 9th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. Kite Realty Group Trust's dividend payout ratio (DPR) is 136.71%.

Analyst Ratings Changes

KRG has been the subject of a number of research reports. Wall Street Zen lowered Kite Realty Group Trust from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. LADENBURG THALM/SH SH assumed coverage on Kite Realty Group Trust in a research report on Tuesday. They issued a "buy" rating and a $30.00 price target on the stock. Wells Fargo & Company decreased 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. Citigroup reissued a "neutral" rating and issued a $24.00 target price (down from $28.00) on shares of Kite Realty Group Trust in a report on Friday. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $24.00 price objective (down from $25.00) on shares of Kite Realty Group Trust in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Kite Realty Group Trust presently has a consensus rating of "Hold" and a consensus target price of $26.50.

Insider Buying and Selling at Kite Realty Group Trust

In other news, CEO John A. Kite sold 50,000 shares of Kite Realty Group Trust stock in a transaction dated 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 owned 54,121 shares of the company's stock, valued at approximately $1,228,546.70. The trade was a 48.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

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.